Varonis Systems, Inc. (NASDAQ:VRNS) Receives $49.31 Average Target Price from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has been given an average rating of “Moderate Buy” by the eighteen brokerages that are presently covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $50.44.

VRNS has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a report on Monday, May 13th. Barclays boosted their price target on shares of Varonis Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank of Canada upped their price objective on Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday, May 7th. Robert W. Baird increased their target price on Varonis Systems from $48.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, May 7th. Finally, JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and upped their target price for the company from $50.00 to $54.00 in a research note on Friday, June 14th.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $49.45 on Wednesday. The company’s fifty day moving average is $44.62 and its two-hundred day moving average is $46.04. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.38 and a quick ratio of 2.38. Varonis Systems has a 52-week low of $25.97 and a 52-week high of $52.88. The firm has a market capitalization of $5.51 billion, a price-to-earnings ratio of -52.61 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.37). Varonis Systems had a negative return on equity of 21.33% and a negative net margin of 20.38%. The business had revenue of $114.02 million during the quarter, compared to analysts’ expectations of $113.81 million. Equities research analysts forecast that Varonis Systems will post -0.98 EPS for the current year.

Insider Activity

In related news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at $65,715,662.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Varonis Systems

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC grew its position in shares of Varonis Systems by 21.2% in the second quarter. SG Americas Securities LLC now owns 93,353 shares of the technology company’s stock valued at $4,478,000 after purchasing an additional 16,304 shares during the last quarter. Sanders Morris Harris LLC acquired a new stake in shares of Varonis Systems during the 2nd quarter worth $2,148,000. Harbor Capital Advisors Inc. increased its position in shares of Varonis Systems by 562.0% in the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock worth $928,000 after purchasing an additional 16,416 shares during the period. Swedbank AB bought a new stake in shares of Varonis Systems during the 1st quarter worth approximately $3,344,000. Finally, Bayesian Capital Management LP acquired a new position in shares of Varonis Systems during the 1st quarter worth $1,245,000. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.