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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average recommendation of “Moderate Buy” by the seventeen analysts that are covering the firm, Marketbeat reports. Six research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $48.81.

Several research analysts have weighed in on VRNS shares. DA Davidson reiterated a “neutral” rating and issued a $45.00 price objective (up previously from $37.00) on shares of Varonis Systems in a research note on Thursday, January 18th. Wells Fargo & Company increased their price objective on Varonis Systems from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 6th. Susquehanna initiated coverage on Varonis Systems in a research note on Friday, December 15th. They issued a “positive” rating and a $55.00 target price on the stock. Wedbush raised Varonis Systems from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $35.00 to $65.00 in a research note on Tuesday, February 6th. Finally, Piper Sandler lifted their price target on Varonis Systems from $40.00 to $45.00 and gave the company a “neutral” rating in a report on Tuesday, February 6th.

Insider Transactions at Varonis Systems

In other Varonis Systems news, VP Dov Gottlieb sold 43,091 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $48.02, for a total value of $2,069,229.82. Following the sale, the vice president now owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Dov Gottlieb sold 43,091 shares of the company’s stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the transaction, the vice president now directly owns 227,654 shares in the company, valued at approximately $10,931,945.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Gili Iohan sold 19,500 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the sale, the director now owns 19,263 shares in the company, valued at $973,552.02. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 372,419 shares of company stock worth $18,571,413. Company insiders own 2.40% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Compass Wealth Management LLC bought a new stake in shares of Varonis Systems in the 1st quarter worth approximately $1,725,000. NBC Securities Inc. acquired a new position in shares of Varonis Systems in the first quarter valued at $68,000. Wellington Management Group LLP lifted its position in Varonis Systems by 51.5% in the fourth quarter. Wellington Management Group LLP now owns 722,337 shares of the technology company’s stock worth $32,707,000 after purchasing an additional 245,476 shares during the period. Goldman Sachs Group Inc. boosted its stake in Varonis Systems by 8.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,328,250 shares of the technology company’s stock worth $60,143,000 after buying an additional 104,171 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in Varonis Systems in the 4th quarter valued at $232,000. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Stock Up 2.3 %

NASDAQ:VRNS opened at $47.81 on Monday. The business’s fifty day moving average price is $48.56 and its 200 day moving average price is $42.21. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50. Varonis Systems has a 1-year low of $22.34 and a 1-year high of $52.88.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. The company had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. As a group, equities research analysts expect that Varonis Systems will post -0.96 EPS for the current fiscal year.

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.