Varonis Systems’ (VRNS) “Outperform” Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Varonis Systems (NASDAQ:VRNS) in a research note published on Wednesday, Benzinga reports. The brokerage currently has a $65.00 price objective on the technology company’s stock.

Several other analysts have also issued reports on the stock. Barclays raised their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen raised their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Wells Fargo & Company raised their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Robert W. Baird raised their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $58.75.

Varonis Systems Price Performance

NASDAQ VRNS opened at $51.23 on Wednesday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $55.86 and a 200 day simple moving average of $50.10. The company has a market cap of $5.75 billion, a P/E ratio of -68.31 and a beta of 0.83. Varonis Systems has a 1 year low of $32.26 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.22%. The business’s revenue was up 21.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.22) EPS. On average, sell-side analysts predict that Varonis Systems will post -0.83 EPS for the current year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 75,000 shares of Varonis Systems stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the completion of the transaction, the insider now directly owns 494,114 shares of the company’s stock, valued at $25,219,578.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Varonis Systems

Institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in Varonis Systems during the 1st quarter valued at about $63,000. International Assets Investment Management LLC raised its stake in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after acquiring an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV bought a new position in shares of Varonis Systems in the second quarter worth about $215,000. Finally, O Neil Global Advisors Inc. raised its stake in shares of Varonis Systems by 4.8% in the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after acquiring an additional 220 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

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.