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

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) has received an average recommendation of "Moderate Buy" from the seventeen ratings firms that are presently covering the company, Marketbeat.com reports. Five investment 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 1-year price target among analysts that have covered the stock in the last year is $59.67.

A number of research firms recently weighed in on VRNS. Piper Sandler upped their price target on Varonis Systems from $48.00 to $55.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Barclays upped their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. UBS Group lifted their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada restated an "outperform" rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Robert W. Baird lifted their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Wednesday, October 23rd.

Insider Activity at Varonis Systems

In other news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. The trade was a 15.33 % decrease in their position. 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

Hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock valued at $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company's stock valued at $140,000 after acquiring an additional 2,442 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Varonis Systems in the 3rd quarter worth approximately $184,000. KBC Group NV boosted its position in shares of Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company's stock worth $184,000 after purchasing an additional 663 shares during the period. Finally, Atom Investors LP acquired a new stake in Varonis Systems in the 3rd quarter valued at approximately $224,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS traded up $0.10 during midday trading on Friday, reaching $49.81. 1,510,946 shares of the stock were exchanged, compared to its average volume of 1,537,194. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm has a market cap of $5.60 billion, a price-to-earnings ratio of -66.41 and a beta of 0.80. The firm has a 50-day simple moving average of $53.87 and a two-hundred day simple moving average of $51.20. Varonis Systems has a twelve month low of $41.13 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 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 net margin of 15.31% and a negative return on equity of 17.58%. The firm's revenue was up 21.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.22) earnings per share. As a group, analysts anticipate that Varonis Systems will post -0.73 EPS for the current fiscal year.

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.