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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received an average recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $59.44.

Several analysts recently issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. UBS Group lifted their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a report on Wednesday, October 30th. Jefferies Financial Group cut their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Finally, Cantor Fitzgerald started coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock.

Insider Activity at Varonis Systems

In related news, 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 value of $4,905,226.50. Following the sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. increased its position in shares of 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 valued at $50,026,000 after buying an additional 995,274 shares during the period. WCM Investment Management LLC bought a new stake in shares of Varonis Systems during the third quarter valued at about $17,419,000. Two Sigma Advisers LP increased its position in shares of Varonis Systems by 46.7% during the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after buying an additional 267,000 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Varonis Systems by 40.0% during the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock valued at $38,361,000 after buying an additional 228,589 shares during the period. Finally, Thematics Asset Management increased its position in shares of Varonis Systems by 40.2% during the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after buying an additional 152,000 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $44.94 on Friday. The company has a fifty day simple moving average of $46.53 and a 200 day simple moving average of $51.44. Varonis Systems has a 12-month low of $41.13 and a 12-month high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.05 billion, a P/E ratio of -59.92 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the firm posted ($0.22) EPS. Varonis Systems’s revenue was up 21.1% compared to the same quarter last year. Sell-side analysts predict that Varonis Systems will post -0.7 earnings per share 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.