Varonis Systems, Inc. (NASDAQ:VRNS) Receives $49.31 Consensus Target Price from Analysts

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average rating of “Moderate Buy” by the eighteen analysts that are currently covering the stock, MarketBeat reports. Six research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $50.44.

Several analysts have weighed in on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research report on Monday, May 13th. JPMorgan Chase & Co. raised Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $50.00 to $54.00 in a research report on Friday, June 14th. Robert W. Baird lifted their price objective on Varonis Systems from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, May 7th. Barclays lifted their price objective on Varonis Systems from $53.00 to $55.00 and gave the company an “overweight” rating in a research report on Thursday, July 11th. Finally, Royal Bank of Canada lifted their price objective on Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a research report on Tuesday, May 7th.

Varonis Systems Stock Up 0.4 %

NASDAQ VRNS opened at $50.76 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.38 and a quick ratio of 2.38. Varonis Systems has a 1 year low of $25.97 and a 1 year high of $52.88. The business’s 50-day moving average is $44.85 and its 200 day moving average is $46.12.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, May 6th. The technology company reported ($0.37) earnings per share for the quarter, meeting the consensus estimate of ($0.37). The business had revenue of $114.02 million for the quarter, compared to analysts’ expectations of $113.81 million. Varonis Systems had a negative return on equity of 21.33% and a negative net margin of 20.38%. As a group, sell-side analysts anticipate that Varonis Systems will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Yakov Faitelson sold 284,211 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the completion of the transaction, the chief executive officer now directly owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds have recently added to or reduced their stakes in the stock. Diversified Trust Co purchased a new stake in Varonis Systems during the 2nd quarter valued at $575,000. SG Americas Securities LLC raised its stake in Varonis Systems by 21.2% during the 2nd quarter. SG Americas Securities LLC now owns 93,353 shares of the technology company’s stock valued at $4,478,000 after buying an additional 16,304 shares during the last quarter. Sanders Morris Harris LLC purchased a new stake in Varonis Systems during the 2nd quarter valued at $2,148,000. Harbor Capital Advisors Inc. raised its stake in Varonis Systems by 562.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock valued at $928,000 after buying an additional 16,416 shares during the last quarter. Finally, Swedbank AB purchased a new stake in Varonis Systems during the 1st quarter valued at $3,344,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.