Varonis Systems, Inc. (NASDAQ:VRNS) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received an average recommendation of “Moderate Buy” from the twenty analysts that are presently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, three have given a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $65.4444.

Several analysts have recently commented on VRNS shares. Wells Fargo & Company raised Varonis Systems from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $51.00 to $70.00 in a research report on Monday, August 11th. DA Davidson raised their target price on Varonis Systems from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 14th. Morgan Stanley boosted their price target on shares of Varonis Systems from $59.00 to $66.00 and gave the company an “overweight” rating in a report on Tuesday, September 2nd. Royal Bank Of Canada restated an “outperform” rating and set a $64.00 price target on shares of Varonis Systems in a report on Wednesday, September 3rd. Finally, Robert W. Baird boosted their price target on shares of Varonis Systems from $58.00 to $63.00 and gave the company an “outperform” rating in a report on Wednesday, July 30th.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $62.68 on Tuesday. The stock has a market cap of $7.02 billion, a PE ratio of -68.13 and a beta of 0.64. The business has a fifty day simple moving average of $59.05 and a 200-day simple moving average of $52.45. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 1.32. Varonis Systems has a 12 month low of $36.53 and a 12 month high of $63.90.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, July 29th. The technology company reported $0.03 EPS for the quarter, topping the consensus estimate of $0.01 by $0.02. The business had revenue of $152.16 million during the quarter, compared to analysts’ expectations of $147.80 million. Varonis Systems had a negative return on equity of 23.06% and a negative net margin of 17.30%.Varonis Systems’s revenue was up 16.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.05 earnings per share. On average, sell-side analysts anticipate that Varonis Systems will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other news, CFO Guy Melamed sold 51,889 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.10, for a total transaction of $2,859,083.90. Following the transaction, the chief financial officer directly owned 470,602 shares in the company, valued at $25,930,170.20. The trade was a 9.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Den Bosch Fred Van sold 3,000 shares of the business’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $55.08, for a total transaction of $165,240.00. Following the transaction, the director owned 128,666 shares in the company, valued at approximately $7,086,923.28. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 113,386 shares of company stock worth $6,429,405. 2.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

A number of large investors have recently bought and sold shares of the business. Stephens Inc. AR boosted its holdings in Varonis Systems by 1.9% in the third quarter. Stephens Inc. AR now owns 9,105 shares of the technology company’s stock worth $523,000 after purchasing an additional 171 shares in the last quarter. Inspire Investing LLC boosted its holdings in Varonis Systems by 2.9% in the third quarter. Inspire Investing LLC now owns 7,878 shares of the technology company’s stock worth $453,000 after purchasing an additional 222 shares in the last quarter. Quarry LP boosted its holdings in Varonis Systems by 31.8% in the first quarter. Quarry LP now owns 1,082 shares of the technology company’s stock worth $44,000 after purchasing an additional 261 shares in the last quarter. Mutual of America Capital Management LLC boosted its holdings in Varonis Systems by 0.3% in the first quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company’s stock worth $3,449,000 after purchasing an additional 284 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Varonis Systems by 179.1% in the second quarter. Bessemer Group Inc. now owns 494 shares of the technology company’s stock worth $25,000 after purchasing an additional 317 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Company Profile

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.