Varonis Systems, Inc. (NASDAQ:VRNS) Receives $58.75 Average Target Price from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has been assigned an average recommendation of “Moderate Buy” from the seventeen ratings firms that are currently covering the company, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation, eleven have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $59.67.

A number of research analysts recently commented on VRNS shares. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Barclays increased their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen boosted their target price on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. Finally, UBS Group lifted their price target on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd.

Varonis Systems Stock Performance

Shares of VRNS opened at $52.23 on Tuesday. Varonis Systems has a 12-month low of $36.87 and a 12-month high of $60.58. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The company has a market cap of $5.87 billion, a PE ratio of -70.36 and a beta of 0.82. The stock has a 50-day moving average price of $55.20 and a 200-day moving average price of $50.55.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during 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%. Varonis Systems’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.22) earnings per share. As a group, equities analysts forecast that Varonis Systems will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling 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 value of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of VRNS. Farther Finance Advisors LLC lifted its holdings in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the period. International Assets Investment Management LLC raised its stake in Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after buying an additional 2,442 shares in the last quarter. KBC Group NV lifted its holdings in Varonis Systems by 25.5% during the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in Varonis Systems during the 3rd quarter valued at $184,000. Finally, Mercer Global Advisors Inc. ADV purchased a new position in Varonis Systems in the second quarter valued at about $215,000. Institutional investors own 95.65% of the company’s stock.

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.