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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have earned an average rating of “Moderate Buy” from the eighteen analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $56.33.

Several analysts have commented on VRNS shares. Wedbush reiterated an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Monday, August 26th. JPMorgan Chase & Co. upgraded Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Barclays upped their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company lifted their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, Robert W. Baird upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $60.00 in a research report on Tuesday, July 30th.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the transaction, the insider now owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in VRNS. Quadrant Capital Group LLC raised its position in shares of Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after buying an additional 429 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Varonis Systems during the 1st quarter valued at about $63,000. NBC Securities Inc. purchased a new position in shares of Varonis Systems during the first quarter valued at about $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of Varonis Systems in the fourth quarter worth about $77,000. Finally, Assetmark Inc. purchased a new stake in shares of Varonis Systems in the fourth quarter worth about $98,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

VRNS opened at $56.23 on Monday. Varonis Systems has a 1 year low of $29.47 and a 1 year high of $58.32. The stock has a 50-day moving average price of $53.63 and a 200-day moving average price of $48.35. The firm has a market cap of $6.27 billion, a PE ratio of -59.82 and a beta of 0.81. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the previous year, the company earned ($0.35) earnings per share. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. Sell-side analysts predict that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

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.