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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation, twelve have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $56.33.

VRNS has been the topic of a number of recent analyst reports. Susquehanna raised their price target on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Piper Sandler boosted their price target on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday, July 30th. Truist Financial restated a “buy” rating and issued a $60.00 price target (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Barclays lifted their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, Royal Bank of Canada upped their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th.

Insider Activity

In related news, Vice Chairman James O’boyle sold 75,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the sale, the insider now owns 494,114 shares in the company, valued at approximately $25,219,578.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently added to or reduced their stakes in VRNS. Vanguard Group Inc. lifted its stake in Varonis Systems by 1.4% in the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after purchasing an additional 155,040 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of Varonis Systems by 7.9% during the 4th quarter. First Trust Advisors LP now owns 4,426,593 shares of the technology company’s stock worth $200,436,000 after acquiring an additional 325,347 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in Varonis Systems by 4.6% during the 2nd quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock valued at $137,885,000 after acquiring an additional 127,129 shares during the period. William Blair Investment Management LLC grew its position in Varonis Systems by 1.1% in the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock valued at $106,396,000 after acquiring an additional 23,231 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Varonis Systems by 126.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,915,119 shares of the technology company’s stock worth $90,336,000 after purchasing an additional 1,070,821 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Performance

Shares of VRNS opened at $55.88 on Monday. The business has a 50-day simple moving average of $53.06 and a two-hundred day simple moving average of $48.14. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. Varonis Systems has a 52 week low of $29.47 and a 52 week high of $58.32. The stock has a market cap of $6.23 billion, a price-to-earnings ratio of -59.45 and a beta of 0.81.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The company had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. During the same period in the prior year, the firm posted ($0.35) EPS. The firm’s quarterly revenue was up 12.9% compared to the same quarter last year. On average, analysts expect that Varonis Systems will post -0.83 EPS 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.