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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) have received an average recommendation of "Moderate Buy" from the eighteen research firms that are covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $58.75.

VRNS has been the subject of several research analyst reports. UBS Group upped their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Barclays increased their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Piper Sandler lifted their price target on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Wells Fargo & Company raised their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 30th.

Insiders Place Their Bets

In other news, Vice Chairman James O'boyle sold 50,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Varonis Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company's stock worth $530,978,000 after purchasing an additional 155,040 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of 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 valued at $137,885,000 after acquiring an additional 127,129 shares in the last quarter. William Blair Investment Management LLC boosted its stake in shares of 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 during the period. Principal Financial Group Inc. raised its stake in Varonis Systems by 9.0% during the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after purchasing an additional 147,081 shares during the period. Finally, Hood River Capital Management LLC boosted its stake in Varonis Systems by 40.8% in the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock worth $76,032,000 after purchasing an additional 466,688 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

NASDAQ VRNS traded down $0.20 during midday trading on Tuesday, hitting $52.27. The company had a trading volume of 848,673 shares, compared to its average volume of 1,343,992. The firm has a 50-day moving average price of $55.30 and a 200-day moving average price of $50.48. The company has a market capitalization of $5.88 billion, a PE ratio of -69.64 and a beta of 0.82. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems has a twelve month low of $34.95 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The company's revenue for the quarter was up 21.1% compared to the same quarter last year. During the same quarter last year, the company posted ($0.22) EPS. As a group, analysts anticipate that Varonis Systems will post -0.73 earnings per share for the current fiscal year.

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.