Varonis Systems, Inc. (NASDAQ:VRNS) Receives Average Rating of “Moderate Buy” from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has been given a consensus rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $59.67.

Several brokerages have commented on VRNS. Barclays upped their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Piper Sandler lifted their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Robert W. Baird increased their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Wedbush restated an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th.

Varonis Systems Trading Up 0.2 %

VRNS opened at $49.81 on Friday. Varonis Systems has a one year low of $41.13 and a one year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The business has a 50 day simple moving average of $53.87 and a two-hundred day simple moving average of $51.20. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of -66.41 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts predict that Varonis Systems will post -0.73 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Institutional investors have recently modified their holdings of the business. Diversified Trust Co bought a new position in Varonis Systems during the 2nd quarter valued at about $575,000. Quantbot Technologies LP raised its holdings in shares of Varonis Systems by 61.4% during the third quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock valued at $6,422,000 after purchasing an additional 43,258 shares during the last quarter. Lisanti Capital Growth LLC lifted its position in Varonis Systems by 17.0% during the third quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after purchasing an additional 10,820 shares during the period. Vontobel Holding Ltd. boosted its holdings in Varonis Systems by 226.9% in the third quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock worth $1,164,000 after purchasing an additional 14,295 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its position in Varonis Systems by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock worth $19,802,000 after purchasing an additional 44,826 shares during the period. 95.65% of the stock is owned by hedge funds and other 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.