Varonis Systems, Inc. (NASDAQ:VRNS) Receives $56.67 Consensus PT from Analysts

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have earned an average rating of “Moderate Buy” from the eighteen analysts that are currently covering the company, Marketbeat reports. Five investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $56.67.

Several analysts recently weighed in on the stock. Barclays boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Piper Sandler upped their target price on shares of Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Wells Fargo & Company increased their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 30th. Wedbush reissued an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Finally, Susquehanna increased their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $58.35 on Friday. The firm has a market cap of $6.51 billion, a PE ratio of -62.07 and a beta of 0.82. The company has a fifty day moving average price of $56.03 and a 200 day moving average price of $49.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems has a 1-year low of $30.89 and a 1-year high of $60.58.

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

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. increased its position in Varonis Systems by 126.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after purchasing an additional 1,070,821 shares in the last quarter. Principal Financial Group Inc. lifted its position in Varonis Systems by 121.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,503,683 shares of the technology company’s stock worth $70,929,000 after acquiring an additional 824,163 shares in the last quarter. Hood River Capital Management LLC lifted its position in Varonis Systems by 40.8% during the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock worth $76,032,000 after acquiring an additional 466,688 shares in the last quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Varonis Systems during the 1st quarter worth approximately $19,194,000. Finally, Squarepoint Ops LLC lifted its position in Varonis Systems by 167.9% during the 2nd quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock worth $21,755,000 after acquiring an additional 284,236 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.