Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) gapped down prior to trading on Wednesday following a dissappointing earnings announcement. The stock had previously closed at $46.84, but opened at $43.21. Varonis Systems shares last traded at $42.62, with a volume of 797,265 shares traded.
The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.45% and a negative net margin of 17.38%.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on VRNS. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price for the company. Robert W. Baird upped their target price on shares of Varonis Systems from $60.00 to $62.00 and gave the company an "outperform" rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Varonis Systems from $59.00 to $65.00 and gave the company an "overweight" rating in a report on Monday, October 28th. Royal Bank of Canada reissued an "outperform" rating and issued a $65.00 price objective on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, DA Davidson lowered their target price on shares of Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, December 12th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Varonis Systems has an average rating of "Moderate Buy" and a consensus price target of $59.38.
Read Our Latest Analysis on Varonis Systems
Insiders Place Their Bets
In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were 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 $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.60% of the company's stock.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in VRNS. Marshall Wace LLP purchased a new stake in Varonis Systems during the second quarter valued at approximately $260,000. Creative Planning increased its position in shares of Varonis Systems by 66.4% during the 3rd quarter. Creative Planning now owns 24,265 shares of the technology company's stock valued at $1,371,000 after purchasing an additional 9,681 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in Varonis Systems by 226.9% during the 3rd quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company's stock valued at $1,164,000 after buying an additional 14,295 shares during the period. nVerses Capital LLC bought a new stake in Varonis Systems in the third quarter worth $446,000. Finally, Compass Wealth Management LLC boosted its stake in Varonis Systems by 26.6% during the third quarter. Compass Wealth Management LLC now owns 75,693 shares of the technology company's stock worth $4,277,000 after buying an additional 15,900 shares during the period. Institutional investors own 95.65% of the company's stock.
Varonis Systems Price Performance
The firm has a market cap of $4.57 billion, a P/E ratio of -47.20 and a beta of 0.83. 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 stock's 50-day simple moving average is $45.68 and its two-hundred day simple moving average is $51.21.
Varonis Systems Company Profile
(
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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.
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