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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have earned a consensus recommendation of “Moderate Buy” from the nineteen ratings firms that are covering the company, Marketbeat.com reports. 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. The average 12-month price target among analysts that have covered the stock in the last year is $57.63.

A number of analysts have weighed in on the company. TD Cowen increased their target price on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday, July 30th. Susquehanna increased their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Truist Financial reiterated a “buy” rating and issued a $60.00 target price (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Robert W. Baird increased their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada increased their target price on Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $56.31 on Friday. The stock’s fifty day moving average is $56.08 and its 200 day moving average is $49.68. Varonis Systems has a fifty-two week low of $30.89 and a fifty-two week high of $60.58. The firm has a market capitalization of $6.28 billion, a PE ratio of -59.90 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. During the same quarter in the prior year, the firm posted ($0.35) EPS. Varonis Systems’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the sale, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock valued at $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans boosted its holdings in Varonis Systems by 4.6% in the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after acquiring an additional 127,129 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Varonis Systems by 1.1% in the second quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after acquiring an additional 23,231 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in Varonis Systems by 126.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after acquiring an additional 1,070,821 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Varonis Systems by 8.9% in the second quarter. Principal Financial Group Inc. now owns 1,636,792 shares of the technology company’s stock worth $78,517,000 after acquiring an additional 133,109 shares in the last quarter. 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.