Varonis Systems (NASDAQ:VRNS) Research Coverage Started at Cantor Fitzgerald

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

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Varonis Systems in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, January 6th. DA Davidson reduced their price target 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. Finally, UBS Group raised their price objective on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $60.24.

Varonis Systems Stock Up 1.0 %

NASDAQ VRNS opened at $44.70 on Thursday. The company has a fifty day moving average of $48.28 and a two-hundred day moving average of $51.66. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of -59.60 and a beta of 0.83. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems has a 52 week low of $41.13 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $141.62 million. During the same quarter last year, the firm earned ($0.22) earnings per share. The firm’s quarterly revenue was up 21.1% compared to the same quarter last year. On average, analysts predict that Varonis Systems will post -0.73 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans lifted its position in shares of Varonis Systems by 4.6% during the second quarter. Thrivent Financial for Lutherans now owns 2,874,388 shares of the technology company’s stock worth $137,885,000 after purchasing an additional 127,129 shares in the last quarter. Geode Capital Management LLC lifted its stake in Varonis Systems by 1.1% in the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock worth $147,801,000 after acquiring an additional 29,050 shares during the last quarter. William Blair Investment Management LLC grew its holdings in Varonis Systems by 1.1% during the 2nd quarter. William Blair Investment Management LLC now owns 2,217,967 shares of the technology company’s stock worth $106,396,000 after acquiring an additional 23,231 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after purchasing an additional 147,081 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Varonis Systems by 6.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 962,923 shares of the technology company’s stock valued at $54,405,000 after purchasing an additional 59,218 shares in the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.