Varonis Systems (NASDAQ:VRNS) Shares Gap Down - What's Next?

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $58.78, but opened at $54.04. Varonis Systems shares last traded at $54.12, with a volume of 585,500 shares.

Analyst Ratings Changes

Several equities analysts have recently commented on VRNS shares. UBS Group increased their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, October 23rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Varonis Systems in a report on Tuesday, July 30th. Baird R W upgraded Varonis Systems from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 30th. Barclays raised their price objective on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, Susquehanna boosted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $58.31.

Varonis Systems Stock Performance

The company's 50 day simple moving average is $56.19 and its 200 day simple moving average is $49.97. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of -58.13 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 - Get Free Report) last released its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates 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 firm had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. During the same period in the prior year, the firm posted ($0.35) earnings per share. The firm's revenue for the quarter was up 12.9% compared to the same quarter last year. On average, equities research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current year.

Insider Activity

In related news, 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 transaction of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares of the company's stock, valued at $26,540,252.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.60% of the company's stock.

Institutional Trading of Varonis Systems

A number of large investors have recently added to or reduced their stakes in the business. Inspire Advisors LLC acquired a new stake in shares of Varonis Systems during the 1st quarter valued at $716,000. Seven Eight Capital LP purchased a new stake in shares of Varonis Systems during the first quarter valued at $706,000. Diversified Trust Co acquired a new position in shares of Varonis Systems in the 2nd quarter valued at $575,000. Swedbank AB acquired a new stake in Varonis Systems during the 1st quarter worth about $3,344,000. Finally, Harbor Capital Advisors Inc. lifted its stake in Varonis Systems by 562.0% during the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company's stock valued at $928,000 after buying an additional 16,416 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.

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