Cantor Fitzgerald Initiates Coverage on Varonis Systems (NASDAQ:VRNS)

Cantor Fitzgerald assumed coverage on shares of Varonis Systems (NASDAQ:VRNS) in a research report report published on Thursday morning,Benzinga reports. The firm issued an overweight rating and a $60.00 price objective on the technology company’s stock.

A number of other research firms also recently issued reports on VRNS. Robert W. Baird increased their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research report on Monday. Finally, UBS Group lifted their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Five research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Varonis Systems has an average rating of “Moderate Buy” and an average target price of $59.39.

Varonis Systems Trading Down 0.2 %

Shares of VRNS opened at $44.24 on Thursday. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58. The company has a 50-day moving average of $48.41 and a 200 day moving average of $51.59. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of -58.99 and a beta of 0.83. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping 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 period last year, the company posted ($0.22) earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, research analysts expect that Varonis Systems will post -0.73 EPS for the current year.

Insider Activity

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction 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 approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its holdings in shares of Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the period. International Assets Investment Management LLC increased 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 worth $140,000 after buying an additional 2,442 shares during the period. KBC Group NV raised its position in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after buying an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Varonis Systems during the 3rd quarter valued at approximately $184,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems in the 2nd quarter valued at $215,000. Institutional investors and hedge funds 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.