Varonis Systems’ (VRNS) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Varonis Systems (NASDAQ:VRNS) in a report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a $67.00 price objective on the technology company’s stock.

A number of other equities analysts also recently issued reports on the company. Cantor Fitzgerald began coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. UBS Group increased their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research report on Wednesday, October 30th. Citigroup decreased their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Finally, Robert W. Baird lifted their target price on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and a consensus target price of $59.38.

Varonis Systems Stock Up 1.4 %

Varonis Systems stock opened at $40.59 on Wednesday. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $4.57 billion, a PE ratio of -54.12 and a beta of 0.83. Varonis Systems has a fifty-two week low of $39.62 and a fifty-two week high of $60.58. The firm has a 50 day moving average price of $45.87 and a 200 day moving average price of $51.23.

Varonis Systems (NASDAQ:VRNS) last issued its 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 15.31% and a negative return on equity of 17.58%. Research analysts expect that Varonis Systems will post -0.7 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.60% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC boosted its holdings in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Varonis Systems by 5,550.0% in the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares during the period. Pacer Advisors Inc. increased its stake in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after acquiring an additional 603 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Varonis Systems in the third quarter worth approximately $184,000. Finally, KBC Group NV grew its holdings in Varonis Systems by 25.5% in the third quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after purchasing an additional 663 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

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.