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

Varonis Systems, Inc. (NASDAQ:VRNS) has earned a consensus rating of “Moderate Buy” from the eighteen ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $56.33.

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. upgraded shares of Varonis Systems from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $50.00 to $54.00 in a research report on Friday, June 14th. Truist Financial reissued a “buy” rating and issued a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Royal Bank of Canada upped their target price on Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Barclays increased their price target on Varonis Systems from $55.00 to $60.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Piper Sandler upped their price objective on Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, July 30th.

Varonis Systems Price Performance

Varonis Systems stock opened at $56.23 on Monday. Varonis Systems has a 52-week low of $29.47 and a 52-week high of $58.32. The company has a market cap of $6.27 billion, a price-to-earnings ratio of -59.82 and a beta of 0.81. The firm’s fifty day moving average is $53.63 and its 200 day moving average is $48.35. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55.

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

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Varonis Systems

Several hedge funds have recently modified their holdings of VRNS. Inspire Advisors LLC bought a new position in shares of Varonis Systems during the 1st quarter worth approximately $716,000. Seven Eight Capital LP purchased a new position in Varonis Systems in the first quarter worth $706,000. Diversified Trust Co acquired a new position in shares of Varonis Systems during the second quarter worth $575,000. Swedbank AB acquired a new position in shares of Varonis Systems during the first quarter worth $3,344,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Varonis Systems by 562.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock valued at $928,000 after purchasing an additional 16,416 shares during the last quarter. 95.65% of the stock is 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.