Varonis Systems, Inc. (NASDAQ:VRNS) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average rating of “Moderate Buy” by the seventeen ratings firms that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $59.38.

Several analysts have commented on the company. DA Davidson cut their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective for the company. Citigroup lowered their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. lifted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Finally, Jefferies Financial Group lowered 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.

Varonis Systems Trading Down 0.2 %

NASDAQ VRNS opened at $42.90 on Thursday. The stock’s fifty day moving average price is $44.43 and its 200-day moving average price is $50.62. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.83 billion, a P/E ratio of -49.88 and a beta of 0.83. Varonis Systems has a 12 month low of $39.62 and a 12 month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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%. As a group, equities analysts forecast that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has authorized a stock buyback plan on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Varonis Systems

Several hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its position in shares of Varonis Systems by 445.3% during the 3rd 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 in the last quarter. Quarry LP bought a new stake in Varonis Systems during the 4th quarter worth approximately $36,000. Johnson Financial Group Inc. purchased a new position in Varonis Systems during the fourth quarter valued at approximately $61,000. Transce3nd LLC bought a new position in shares of Varonis Systems in the fourth quarter worth approximately $62,000. Finally, New Age Alpha Advisors LLC purchased a new stake in shares of Varonis Systems in the fourth quarter worth $70,000. 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.