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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $56.33.

Several research analysts have issued reports on VRNS shares. Royal Bank of Canada increased their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday, July 30th. Susquehanna lifted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised shares of Varonis Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $50.00 to $54.00 in a research note on Friday, June 14th. Needham & Company LLC reaffirmed a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company lifted their price target on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th.

Varonis Systems Stock Up 1.4 %

Shares of NASDAQ VRNS opened at $55.88 on Monday. Varonis Systems has a 52-week low of $29.47 and a 52-week high of $58.32. The firm has a market capitalization of $6.23 billion, a price-to-earnings ratio of -59.45 and a beta of 0.81. The stock has a 50 day moving average price of $53.06 and a 200 day moving average price of $48.14. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. The business had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) EPS. Sell-side analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently made changes to their positions in the company. Quadrant Capital Group LLC grew its stake in Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in Varonis Systems in the first quarter valued at approximately $63,000. NBC Securities Inc. acquired a new position in Varonis Systems in the 1st quarter worth approximately $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Varonis Systems during the 4th quarter worth approximately $77,000. Finally, Assetmark Inc. acquired a new stake in Varonis Systems during the 4th quarter valued at approximately $98,000. 95.65% of the stock is owned by institutional investors and hedge funds.

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.