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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average recommendation of “Moderate Buy” by the nineteen brokerages that are covering the firm, MarketBeat reports. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $55.06.

A number of brokerages recently issued reports on VRNS. Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, March 28th. Wells Fargo & Company lowered their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their price target on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Morgan Stanley lowered their price target on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Finally, Royal Bank of Canada boosted their price target on Varonis Systems from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th.

Varonis Systems Stock Up 1.4%

Shares of NASDAQ:VRNS opened at $47.90 on Friday. Varonis Systems has a 1 year low of $36.53 and a 1 year high of $60.58. The business has a 50 day simple moving average of $42.93 and a two-hundred day simple moving average of $44.42. The firm has a market capitalization of $5.36 billion, a PE ratio of -55.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The business had revenue of $136.42 million for the quarter, compared to analysts’ expectations of $133.10 million. During the same quarter last year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. On average, equities analysts predict that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has authorized a share repurchase plan on Monday, February 10th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Varonis Systems during the fourth quarter valued at $36,000. Johnson Financial Group Inc. purchased a new stake in shares of Varonis Systems during the fourth quarter valued at $61,000. Transce3nd LLC purchased a new stake in shares of Varonis Systems during the fourth quarter valued at $62,000. New Age Alpha Advisors LLC purchased a new stake in shares of Varonis Systems during the fourth quarter valued at $70,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Varonis Systems during the first quarter valued at $69,000. 95.65% of the stock is owned by hedge funds and other 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.