Varonis Systems (NASDAQ:VRNS) Now Covered by Analysts at StockNews.com

Equities research analysts at StockNews.com initiated coverage on shares of Varonis Systems (NASDAQ:VRNS – Get Rating) in a note issued to investors on Thursday. The brokerage set a “hold” rating on the technology company’s stock.

Several other equities research analysts have also weighed in on VRNS. Citigroup boosted their target price on Varonis Systems from $25.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, February 8th. JPMorgan Chase & Co. began coverage on Varonis Systems in a research note on Tuesday, January 24th. They issued an “underweight” rating and a $25.00 price target on the stock. Jefferies Financial Group lowered Varonis Systems from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $30.00 to $26.00 in a research note on Thursday, January 5th. William Blair reissued an “outperform” rating on shares of Varonis Systems in a research note on Tuesday, February 7th. Finally, Morgan Stanley upped their price target on Varonis Systems from $22.00 to $24.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 7th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $30.94.

Varonis Systems Price Performance

VRNS stock opened at $25.65 on Thursday. The company has a current ratio of 3.96, a quick ratio of 3.96 and a debt-to-equity ratio of 0.50. Varonis Systems has a 1 year low of $15.61 and a 1 year high of $51.60. The stock’s fifty day moving average is $26.24 and its two-hundred day moving average is $24.84.

Varonis Systems (NASDAQ:VRNS – Get Rating) last issued its quarterly earnings results on Monday, February 6th. The technology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.03. The company had revenue of $142.62 million for the quarter, compared to analyst estimates of $140.58 million. Varonis Systems had a negative return on equity of 23.10% and a negative net margin of 26.29%. As a group, research analysts forecast that Varonis Systems will post -0.82 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In related news, Director Ofer Segev sold 1,500 shares of the stock in a transaction that occurred on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total transaction of $35,670.00. Following the completion of the transaction, the director now directly owns 72,410 shares of the company’s stock, valued at $1,721,909.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.90% of the company’s stock.

Institutional Trading of Varonis Systems

A number of hedge funds have recently made changes to their positions in the business. Boothbay Fund Management LLC bought a new position in shares of Varonis Systems during the third quarter worth approximately $247,000. Mutual of America Capital Management LLC increased its stake in shares of Varonis Systems by 47.0% during the third quarter. Mutual of America Capital Management LLC now owns 49,086 shares of the technology company’s stock worth $1,302,000 after purchasing an additional 15,694 shares during the period. Canada Pension Plan Investment Board bought a new position in shares of Varonis Systems during the third quarter worth approximately $156,000. Natixis increased its stake in shares of Varonis Systems by 22.8% during the second quarter. Natixis now owns 11,912 shares of the technology company’s stock worth $358,000 after purchasing an additional 2,208 shares during the period. Finally, Alpha Paradigm Partners LLC bought a new position in Varonis Systems during the 3rd quarter worth $1,845,000. 90.72% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Company Profile

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.