Varonis Systems, Inc. (NASDAQ:VRNS) Given Average Rating of “Moderate Buy” by Analysts

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have earned an average rating of “Moderate Buy” from the eighteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $58.75.

A number of research analysts have issued reports on VRNS shares. UBS Group increased their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Susquehanna increased their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Barclays increased their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th.

Insider Activity

In other news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction on 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 completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several large investors have recently modified their holdings of VRNS. Hood River Capital Management LLC raised its stake in shares of Varonis Systems by 40.8% during the first quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company’s stock valued at $76,032,000 after acquiring an additional 466,688 shares during the last quarter. WCM Investment Management LLC bought a new position in shares of Varonis Systems during the third quarter valued at $17,419,000. Squarepoint Ops LLC increased its position in shares of Varonis Systems by 167.9% during the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock worth $21,755,000 after buying an additional 284,236 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Varonis Systems by 40.0% during the second 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, Vanguard Group Inc. increased its position in shares of Varonis Systems by 1.4% during the first quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company’s stock worth $530,978,000 after buying an additional 155,040 shares during the period. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Up 0.2 %

Shares of VRNS opened at $52.47 on Tuesday. Varonis Systems has a 52 week low of $34.95 and a 52 week high of $60.58. The firm has a market cap of $5.90 billion, a P/E ratio of -69.96 and a beta of 0.82. The firm’s 50-day simple moving average is $55.38 and its 200 day simple moving average is $50.43. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $141.62 million. During the same quarter in the prior year, the business earned ($0.22) EPS. Varonis Systems’s quarterly revenue was up 21.1% on a year-over-year basis. On average, analysts forecast that Varonis Systems will post -0.73 earnings per share for the current year.

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.