Varonis Systems, Inc. (NASDAQ:VRNS) Receives $59.19 Consensus Price Target from Analysts

Varonis Systems, Inc. (NASDAQ:VRNS) has received an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $59.35.

A number of brokerages have recently commented on VRNS. Royal Bank of Canada reiterated an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Jefferies Financial Group dropped their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Barclays boosted their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. UBS Group raised their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. lifted their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $44.31 on Wednesday. Varonis Systems has a twelve month low of $41.13 and a twelve month high of $60.58. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock’s 50-day simple moving average is $48.98 and its 200 day simple moving average is $51.69. The firm has a market capitalization of $4.98 billion, a PE ratio of -59.08 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last announced 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. The company 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% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.22) EPS. On average, analysts anticipate that Varonis Systems will post -0.73 EPS for the current fiscal year.

Insider Activity at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Varonis Systems

Several large investors have recently bought and sold shares of VRNS. O Neil Global Advisors Inc. lifted its position in shares of Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after buying an additional 220 shares in the last quarter. Virtue Capital Management LLC lifted its holdings 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 acquiring an additional 364 shares during the period. Xponance Inc. grew its stake in 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 purchasing an additional 367 shares during the period. Natixis Advisors LLC grew its stake in Varonis Systems by 3.5% in the 2nd quarter. Natixis Advisors LLC now owns 11,925 shares of the technology company’s stock valued at $572,000 after purchasing an additional 401 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors.

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.