Varonis Systems, Inc. (NASDAQ:VRNS) Receives $59.44 Average PT from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has earned an average recommendation of “Moderate Buy” from the nineteen research firms that are currently covering the firm, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $59.44.

A number of research analysts have commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. DA Davidson reduced their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Citigroup cut their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Finally, Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock.

Varonis Systems Stock Up 1.0 %

VRNS stock opened at $44.94 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company’s 50 day moving average is $46.53 and its 200 day moving average is $51.44. The stock has a market cap of $5.05 billion, a price-to-earnings ratio of -59.92 and a beta of 0.83. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. Varonis Systems’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.22) earnings per share. Sell-side analysts predict that Varonis Systems will post -0.7 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several large investors have recently modified their holdings of VRNS. Mercer Global Advisors Inc. ADV purchased a new position in shares of Varonis Systems in the 2nd quarter worth about $215,000. Xponance Inc. raised its position in shares of Varonis Systems by 5.6% in the 2nd quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock worth $335,000 after purchasing an additional 367 shares during the last quarter. Marshall Wace LLP purchased a new position in shares of Varonis Systems in the 2nd quarter worth about $260,000. The Manufacturers Life Insurance Company raised its position in shares of Varonis Systems by 40.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after purchasing an additional 228,589 shares during the last quarter. Finally, Algert Global LLC purchased a new position in shares of Varonis Systems in the 2nd quarter worth about $527,000. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.