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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been assigned a consensus rating of “Moderate Buy” from the seventeen research firms that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $48.81.

A number of brokerages have issued reports on VRNS. Royal Bank of Canada restated an “outperform” rating and set a $56.00 target price on shares of Varonis Systems in a report on Friday, March 15th. Truist Financial restated a “buy” rating and issued a $55.00 target price (up previously from $50.00) on shares of Varonis Systems in a research note on Wednesday, March 13th. Wells Fargo & Company boosted their price target on Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 6th. Robert W. Baird boosted their price target on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $55.00 price target on shares of Varonis Systems in a research report on Tuesday, February 6th.

Insider Activity

In other news, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the sale, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Guy Melamed sold 188,503 shares of the company’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $49.88, for a total transaction of $9,402,529.64. Following the completion of the sale, the chief financial officer now directly owns 645,876 shares in the company, valued at approximately $32,216,294.88. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the sale, the director now owns 19,263 shares of the company’s stock, valued at $973,552.02. The disclosure for this sale can be found here. In the last three months, insiders sold 372,419 shares of company stock worth $18,571,413. 2.40% of the stock is currently owned by company insiders.

Institutional Trading of Varonis Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Varonis Systems by 1.6% during the 3rd quarter. Vanguard Group Inc. now owns 11,251,092 shares of the technology company’s stock worth $343,608,000 after buying an additional 180,082 shares during the last quarter. First Trust Advisors LP increased its holdings in Varonis Systems by 7.9% in the 4th quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock worth $200,436,000 after purchasing an additional 325,347 shares in the last quarter. Clearbridge Investments LLC increased its holdings in Varonis Systems by 1.9% in the 4th quarter. Clearbridge Investments LLC now owns 3,722,692 shares of the technology company’s stock worth $168,563,000 after purchasing an additional 70,572 shares in the last quarter. Cadian Capital Management LP increased its holdings in Varonis Systems by 34.6% in the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock worth $109,160,000 after purchasing an additional 919,334 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Varonis Systems by 6.7% in the 3rd quarter. William Blair Investment Management LLC now owns 3,252,160 shares of the technology company’s stock worth $99,321,000 after purchasing an additional 205,105 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Price Performance

Shares of VRNS stock opened at $44.84 on Friday. The stock has a 50-day moving average price of $47.62 and a 200 day moving average price of $43.44. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.00 billion, a price-to-earnings ratio of -48.74 and a beta of 0.85. Varonis Systems has a 12 month low of $22.34 and a 12 month high of $52.88.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The firm had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $151.64 million. Research analysts expect that Varonis Systems will post -0.96 EPS for the current 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.