Varonis Systems, Inc. (NASDAQ:VRNS) Receives $59.44 Average PT from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has been given a consensus recommendation of “Moderate Buy” by the nineteen research firms that are presently covering the company, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation, thirteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $59.44.

A number of equities analysts have issued reports on the company. Needham & Company LLC reiterated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research report on Monday, January 6th. Barclays lifted their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted their target price 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, Piper Sandler decreased their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th.

Varonis Systems Trading Up 2.5 %

NASDAQ VRNS opened at $45.73 on Friday. Varonis Systems has a 1 year low of $41.13 and a 1 year high of $60.58. 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 company has a market capitalization of $5.14 billion, a PE ratio of -60.97 and a beta of 0.83. The company has a fifty day moving average of $46.64 and a 200 day moving average of $51.49.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate 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 business had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same quarter in the prior year, the firm posted ($0.22) EPS. The business’s quarterly revenue was up 21.1% compared to the same quarter last year. Research analysts forecast that Varonis Systems will post -0.7 earnings per share for the current year.

Insider Activity at Varonis Systems

In other news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction that occurred on 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 sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. grew its position in shares of Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after purchasing an additional 995,274 shares during the last quarter. WCM Investment Management LLC purchased a new position in Varonis Systems during the third quarter worth approximately $17,419,000. Two Sigma Advisers LP grew its stake in shares of Varonis Systems by 46.7% during the 3rd quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after buying an additional 267,000 shares during the period. The Manufacturers Life Insurance Company raised its position in shares of Varonis Systems by 40.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after buying an additional 228,589 shares during the period. Finally, Thematics Asset Management boosted its holdings in Varonis Systems by 40.2% in the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock valued at $29,945,000 after acquiring an additional 152,000 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

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.