Varonis Systems (NASDAQ:VRNS) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Varonis Systems (NASDAQ:VRNS - Free Report) in a research note published on Thursday,Benzinga reports. The firm issued an overweight rating and a $60.00 price objective on the technology company's stock.

A number of other research analysts have also commented on VRNS. DA Davidson reduced their price target on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating for the company in a research report on Thursday, December 12th. Robert W. Baird upped their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on Varonis Systems from $59.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 28th. Finally, Barclays raised their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Five equities 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. Based on data from MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.39.

Varonis Systems Stock Performance

Shares of Varonis Systems stock traded down $0.07 during trading hours on Thursday, reaching $44.24. The company had a trading volume of 1,027,428 shares, compared to its average volume of 1,159,366. The firm has a market cap of $4.98 billion, a PE ratio of -58.99 and a beta of 0.83. Varonis Systems has a one year low of $41.13 and a one year high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The business has a fifty day simple moving average of $48.53 and a 200 day simple moving average of $51.64.

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

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently bought and sold shares of VRNS. WCM Investment Management LLC purchased a new position in shares of Varonis Systems during the 3rd quarter worth approximately $17,419,000. Squarepoint Ops LLC grew its stake in Varonis Systems by 167.9% in the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock worth $21,755,000 after purchasing an additional 284,236 shares during the period. Two Sigma Advisers LP raised its holdings in Varonis Systems by 46.7% in the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company's stock worth $47,415,000 after purchasing an additional 267,000 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Varonis Systems by 40.0% during the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company's stock valued at $38,361,000 after buying an additional 228,589 shares during the period. Finally, Thematics Asset Management boosted its holdings in shares of Varonis Systems by 40.2% during the 3rd quarter. Thematics Asset Management now owns 530,000 shares of the technology company's stock valued at $29,945,000 after buying an additional 152,000 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company's stock.

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.