Varonis Systems, Inc. (NASDAQ:VRNS) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Varonis Systems, Inc. (NASDAQ:VRNS) has been assigned an average recommendation of “Moderate Buy” from the eighteen brokerages that are covering the stock, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $59.19.

Several equities research analysts have commented on the stock. Piper Sandler upped their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird raised their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Barclays lifted their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. DA Davidson lowered their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Finally, UBS Group lifted their price objective on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd.

Varonis Systems Stock Up 1.2 %

Shares of Varonis Systems stock opened at $44.43 on Wednesday. The business has a fifty day simple moving average of $49.96 and a 200 day simple moving average of $51.66. The stock has a market cap of $5.00 billion, a PE ratio of -59.24 and a beta of 0.80. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems has a 12 month low of $41.13 and a 12 month high of $60.58.

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

Insider Activity at Varonis Systems

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

Institutional Investors Weigh In On Varonis Systems

Several hedge funds have recently bought and sold shares of the company. Bank of New York Mellon Corp raised its stake in Varonis Systems by 24.5% in the second quarter. Bank of New York Mellon Corp now owns 618,793 shares of the technology company’s stock valued at $29,684,000 after buying an additional 121,772 shares during the period. Natixis Advisors LLC raised its stake in Varonis Systems by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after acquiring an additional 401 shares during the period. Rhumbline Advisers lifted its holdings in Varonis Systems by 3.4% during the 2nd quarter. Rhumbline Advisers now owns 170,492 shares of the technology company’s stock valued at $8,178,000 after purchasing an additional 5,549 shares during the last quarter. Hodges Capital Management Inc. lifted its holdings in Varonis Systems by 38.5% during the 2nd quarter. Hodges Capital Management Inc. now owns 141,775 shares of the technology company’s stock valued at $6,801,000 after purchasing an additional 39,439 shares during the last quarter. Finally, TD Asset Management Inc boosted its position in Varonis Systems by 59.5% during the second quarter. TD Asset Management Inc now owns 41,800 shares of the technology company’s stock worth $2,005,000 after purchasing an additional 15,600 shares during the period. 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.