Varonis Systems, Inc. (NASDAQ:VRNS) Receives Consensus Rating of “Moderate Buy” from Analysts

Varonis Systems, Inc. (NASDAQ:VRNS) has been given a consensus rating of “Moderate Buy” by the eighteen research firms that are currently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have covered the stock in the last year is $59.19.

VRNS has been the topic of several recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. UBS Group raised their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. lifted their target price on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday, October 28th. Barclays upped their price target on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Robert W. Baird lifted their price objective on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares of the company’s stock, valued at $26,540,252.64. The trade was a 10.12 % decrease in their position. The transaction 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 the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Several institutional investors and hedge funds have recently modified their holdings of VRNS. Quantbot Technologies LP raised its holdings in Varonis Systems by 61.4% during the third quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock valued at $6,422,000 after acquiring an additional 43,258 shares during the period. Lisanti Capital Growth LLC raised its stake in Varonis Systems by 17.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after purchasing an additional 10,820 shares during the period. Vontobel Holding Ltd. raised its stake 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 purchasing an additional 14,295 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Varonis Systems by 14.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock worth $19,802,000 after purchasing an additional 44,826 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Varonis Systems in the 3rd quarter worth approximately $1,872,000. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $44.58 on Wednesday. The company has a 50 day simple moving average of $49.23 and a two-hundred day simple moving average of $51.62. Varonis Systems has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. The company has a market capitalization of $5.01 billion, a price-to-earnings ratio of -59.44 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same quarter last year, the company earned ($0.22) EPS. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. Analysts expect that Varonis Systems will post -0.73 EPS for the current fiscal year.

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.