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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the eighteen ratings firms that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $59.38.

Several equities analysts have recently weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a "hold" rating on the stock in a research report on Thursday, December 19th. Morgan Stanley assumed coverage on shares of Varonis Systems in a research report on Tuesday. They issued an "overweight" rating on the stock. StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th.

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Hedge Funds Weigh In On Varonis Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new position in shares of Varonis Systems in the 4th quarter valued at $36,000. Johnson Financial Group Inc. bought a new position in shares of Varonis Systems in the 4th quarter valued at $61,000. Transce3nd LLC bought a new position in shares of Varonis Systems in the 4th quarter valued at $62,000. New Age Alpha Advisors LLC bought a new position in shares of Varonis Systems in the 4th quarter valued at $70,000. Finally, Pacer Advisors Inc. increased its stake in shares of Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company's stock valued at $118,000 after purchasing an additional 603 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Varonis Systems Stock Performance

VRNS stock traded down $0.64 during trading hours on Monday, reaching $41.62. The stock had a trading volume of 357,567 shares, compared to its average volume of 1,756,446. The stock has a market capitalization of $4.68 billion, a PE ratio of -48.39 and a beta of 0.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The stock has a 50-day simple moving average of $43.18 and a 200 day simple moving average of $48.90. Varonis Systems has a fifty-two week low of $39.10 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Analysts predict that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a stock buyback plan on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board believes its stock is undervalued.

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.