Varonis Systems, Inc. (NASDAQ:VRNS) Receives $59.38 Consensus PT from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has been assigned an average recommendation of “Moderate Buy” from the eighteen analysts that are presently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $59.38.

Several research firms have commented on VRNS. DA Davidson dropped their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Jefferies Financial Group dropped their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. Cantor Fitzgerald assumed coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Piper Sandler decreased their price target on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Citigroup decreased their price target on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th.

Varonis Systems Trading Up 1.8 %

NASDAQ VRNS opened at $42.26 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58. The firm has a market capitalization of $4.76 billion, a PE ratio of -49.14 and a beta of 0.85. The stock’s 50 day moving average is $43.18 and its 200 day moving average is $48.90.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate 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%. Research analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its board has approved a share repurchase plan on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Varonis Systems

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in Varonis Systems during the fourth quarter valued at $36,000. Johnson Financial Group Inc. purchased a new stake in Varonis Systems in the fourth quarter worth about $61,000. Transce3nd LLC purchased a new stake in Varonis Systems in the fourth quarter worth about $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems in the fourth quarter worth about $70,000. Finally, Pacer Advisors Inc. increased its position in Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after buying an additional 603 shares in the last quarter. Hedge funds and other 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.