Varonis Systems (NASDAQ:VRNS) Now Covered by Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of Varonis Systems (NASDAQ:VRNS) in a research report released on Thursday,Benzinga reports. The firm issued an overweight rating and a $60.00 price target on the technology company’s stock.

A number of other brokerages also recently issued reports on VRNS. JPMorgan Chase & Co. boosted their price objective 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. Piper Sandler reduced their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday. Jefferies Financial Group reduced their target price on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, December 19th. Finally, DA Davidson lowered their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Five analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.39.

Varonis Systems Stock Down 0.2 %

Varonis Systems stock opened at $44.24 on Thursday. Varonis Systems has a one year low of $41.13 and a one year high of $60.58. The stock has a fifty day moving average of $48.41 and a 200 day moving average of $51.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The stock has a market cap of $4.98 billion, a PE ratio of -58.99 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. The firm had revenue of $148.07 million during 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 business’s revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.22) EPS. As a group, sell-side analysts predict that Varonis Systems will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Guy Melamed sold 91,345 shares of the company’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 sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction dated 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 transaction, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. O Neil Global Advisors Inc. increased its position in Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after acquiring an additional 220 shares during the last quarter. Virtue Capital Management LLC boosted its stake in shares of Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares during the period. Xponance Inc. boosted its stake in shares of Varonis Systems by 5.6% during 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 period. Natixis Advisors LLC grew its holdings in Varonis Systems by 3.5% during 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 last quarter. Finally, Farther Finance Advisors LLC raised its position in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.