Brokerages Set Varonis Systems, Inc. (NASDAQ:VRNS) Price Target at $59.44

Varonis Systems, Inc. (NASDAQ:VRNS) has received a consensus rating of “Moderate Buy” from the nineteen ratings firms that are presently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $59.44.

A number of analysts recently issued reports on the stock. Piper Sandler dropped their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Needham & Company LLC restated a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, January 6th. Citigroup reduced their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Robert W. Baird raised their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, UBS Group raised their target price on Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd.

Insider Activity at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

Several large investors have recently bought and sold shares of the stock. Virtue Capital Management LLC boosted its stake in Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after buying an additional 364 shares in the last quarter. Xponance Inc. increased its stake in shares of Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after buying an additional 367 shares during the period. Farther Finance Advisors LLC lifted its stake in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares during the period. Pacer Advisors Inc. increased its position in Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares during the period. Finally, KBC Group NV raised its holdings in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $45.73 on Friday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -60.97 and a beta of 0.83. The business has a 50-day moving average of $46.64 and a 200-day moving average of $51.49.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. The firm had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm’s revenue was up 21.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.22) EPS. On average, equities analysts anticipate that Varonis Systems will post -0.7 EPS for the current fiscal year.

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.