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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received a consensus rating of “Moderate Buy” from the eighteen analysts that are currently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $59.38.

Several research firms have recently commented on VRNS. DA Davidson decreased their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Piper Sandler decreased their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Jefferies Financial Group decreased their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRNS. Norges Bank bought a new stake in Varonis Systems during the fourth quarter worth $56,561,000. Groupama Asset Managment bought a new stake in Varonis Systems during the fourth quarter worth $55,538,000. Assenagon Asset Management S.A. lifted its stake in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after purchasing an additional 995,274 shares during the last quarter. Deutsche Bank AG lifted its stake in Varonis Systems by 97.7% during the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company’s stock worth $59,467,000 after purchasing an additional 661,436 shares during the last quarter. Finally, Two Sigma Advisers LP lifted its stake in Varonis Systems by 64.5% during the fourth quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company’s stock worth $61,322,000 after purchasing an additional 541,000 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $41.00 on Monday. The business’s 50 day moving average price is $43.05 and its two-hundred day moving average price is $48.65. The company has a market cap of $4.61 billion, a PE ratio of -47.67 and a beta of 0.85. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. On average, analysts predict that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its board has authorized a stock repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.