Varonis Systems, Inc. (NASDAQ:VRNS) Given Average Recommendation of "Moderate Buy" by Brokerages

Shares of Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) have earned an average recommendation of "Moderate Buy" from the eighteen ratings firms that are covering the firm, MarketBeat reports. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $59.19.

A number of equities analysts have weighed in on VRNS shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a research report on Monday, October 28th. Jefferies Financial Group decreased their price objective on Varonis Systems from $60.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, December 19th. Piper Sandler boosted their target price on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird upped their price target on Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd.

Varonis Systems Price Performance

VRNS stock traded up $0.52 during midday trading on Wednesday, reaching $44.43. 1,199,260 shares of the company's stock traded hands, compared to its average volume of 1,363,907. The company has a 50-day simple moving average of $49.72 and a two-hundred day simple moving average of $51.61. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58. The company has a market cap of $5.00 billion, a price-to-earnings ratio of -59.24 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.07 by $0.03. The company had revenue of $148.07 million during 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 firm's quarterly revenue was up 21.1% compared to the same quarter last year. During the same period last year, the company posted ($0.22) earnings per share. On average, analysts anticipate that Varonis Systems will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares of the company's stock, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Vice Chairman James O'boyle sold 50,000 shares of the 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 sale, the insider now owns 444,114 shares of the company's stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On Varonis Systems

Institutional investors and hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings 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 worth $100,789,000 after buying an additional 147,081 shares during the period. Franklin Resources Inc. increased its position in shares of Varonis Systems by 14.5% during the third quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock worth $2,383,000 after acquiring an additional 5,031 shares in the last quarter. Tidal Investments LLC acquired a new stake in shares of Varonis Systems during the third quarter worth $232,000. Virtue Capital Management LLC lifted its position in Varonis Systems by 2.3% in the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock valued at $919,000 after acquiring an additional 364 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Varonis Systems by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock valued at $147,801,000 after acquiring an additional 29,050 shares in the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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.