Varonis Systems, Inc. (NASDAQ:VRNS) Receives $59.67 Average Price Target from Brokerages

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been assigned a consensus recommendation of “Moderate Buy” from the seventeen brokerages that are currently covering the company, Marketbeat.com reports. Five equities 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 12 month price target among brokers that have covered the stock in the last year is $59.67.

Several brokerages have recently issued reports on VRNS. UBS Group boosted their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Barclays upped their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Piper Sandler lifted their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Wedbush restated an “outperform” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price objective 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.

Insider Buying and Selling

In other news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction dated Wednesday, November 13th. The stock was 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 owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Diversified Trust Co bought a new position in Varonis Systems during the second quarter worth $575,000. Quantbot Technologies LP lifted its position in shares of Varonis Systems by 61.4% in the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after buying an additional 43,258 shares during the last quarter. Lisanti Capital Growth LLC boosted its holdings in shares of Varonis Systems by 17.0% in the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock valued at $4,198,000 after buying an additional 10,820 shares during the period. Vontobel Holding Ltd. grew its position in shares of 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 last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in Varonis Systems by 14.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock worth $19,802,000 after acquiring an additional 44,826 shares during the period. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $49.08 on Friday. 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 capitalization of $5.52 billion, a PE ratio of -65.44 and a beta of 0.80. The business’s 50-day moving average price is $53.73 and its 200 day moving average price is $51.33. Varonis Systems has a twelve month low of $41.13 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. During the same period last year, the company earned ($0.22) earnings per share. The company’s quarterly revenue was up 21.1% on a year-over-year basis. On average, research analysts predict that Varonis Systems will post -0.73 earnings per share for the current year.

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.