Analysts Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $59.38

Varonis Systems, Inc. (NASDAQ:VRNS) has earned an average rating of “Moderate Buy” from the seventeen analysts that are covering the company, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $59.38.

VRNS has been the topic of several analyst reports. Citigroup lowered their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Wells Fargo & Company lowered their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Cantor Fitzgerald assumed coverage on Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price on the stock. Finally, DA Davidson lowered their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in 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 acquiring an additional 423 shares during the last quarter. Quarry LP bought a new stake in Varonis Systems during the fourth quarter worth approximately $36,000. Johnson Financial Group Inc. bought a new stake in Varonis Systems during the fourth quarter worth approximately $61,000. Transce3nd LLC bought a new stake in Varonis Systems during the fourth quarter worth approximately $62,000. Finally, New Age Alpha Advisors LLC bought a new stake in Varonis Systems during the fourth quarter worth approximately $70,000. 95.65% of the stock is owned by institutional investors.

Varonis Systems Stock Performance

Shares of VRNS opened at $42.81 on Thursday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems has a one year low of $39.62 and a one year high of $60.58. The firm has a market capitalization of $4.82 billion, a P/E ratio of -49.78 and a beta of 0.83. The business has a fifty day moving average of $44.34 and a 200 day moving average of $50.53.

Varonis Systems (NASDAQ:VRNS) last released 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 17.38% and a negative return on equity of 20.35%. As a group, sell-side analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its board has approved a share repurchase program on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

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.