Varonis Systems (NASDAQ:VRNS) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald started coverage on shares of Varonis Systems (NASDAQ:VRNS) in a research note issued on Thursday, MarketBeat Ratings reports. The brokerage set an “overweight” rating and a $60.00 price target on the technology company’s stock. Cantor Fitzgerald’s target price suggests a potential upside of 34.23% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. DA Davidson cut their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Needham & Company LLC reissued a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, January 6th. JPMorgan Chase & Co. raised their target price on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Finally, Robert W. Baird raised their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and an average price target of $60.24.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $44.70 on Thursday. The business’s 50-day simple moving average is $48.28 and its 200-day simple moving average is $51.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. Varonis Systems has a 52 week low of $41.13 and a 52 week high of $60.58. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of -59.60 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities research analysts expect that Varonis Systems will post -0.73 earnings per share for the current fiscal year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction on 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 completion of the transaction, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction 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 represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds have recently made changes to their positions in VRNS. Diversified Trust Co grew its stake in Varonis Systems by 12.2% during the fourth quarter. Diversified Trust Co now owns 15,113 shares of the technology company’s stock worth $671,000 after buying an additional 1,639 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after acquiring an additional 147,081 shares in the last quarter. Franklin Resources Inc. grew its position in Varonis Systems by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company’s stock worth $2,383,000 after acquiring an additional 5,031 shares during the last quarter. Tidal Investments LLC acquired a new stake in Varonis Systems during the 3rd quarter valued at $232,000. Finally, Virtue Capital Management LLC increased its holdings in Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after purchasing an additional 364 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

About Varonis Systems

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.