Varonis Systems, Inc. (NASDAQ:VRNS) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been assigned an average rating of “Moderate Buy” from the seventeen research firms that are covering the company, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $59.67.

Several research analysts have weighed in on VRNS shares. UBS Group upped their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. TD Cowen upped their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Truist Financial reaffirmed a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, August 26th.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $49.24 on Tuesday. The company has a 50-day simple moving average of $55.20 and a 200-day simple moving average of $50.70. Varonis Systems has a one year low of $38.46 and a one year high of $60.58. 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 (NASDAQ:VRNS) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share 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 company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same period in the prior year, the business posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 21.1% compared to the same quarter last year. As a group, equities research analysts forecast that Varonis Systems will post -0.73 EPS for the current year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VRNS. Farther Finance Advisors LLC lifted its position in shares of Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC increased its stake in Varonis Systems by 5,550.0% during the 3rd quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock valued at $140,000 after buying an additional 2,442 shares during the period. KBC Group NV increased its stake in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock valued at $184,000 after buying an additional 663 shares during the period. Harvest Fund Management Co. Ltd acquired a new position in shares of Varonis Systems in the 3rd quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of Varonis Systems in the 2nd quarter worth approximately $215,000. 95.65% of the stock is currently owned by 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.