Varonis Systems, Inc. (NASDAQ:VRNS) Receives $55.06 Consensus Target Price from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has earned an average recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $55.06.

Several research analysts have recently weighed in on the company. UBS Group boosted their price target on Varonis Systems from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Barclays cut their price objective on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Jefferies Financial Group cut their price objective on Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a report on Monday, March 31st. JPMorgan Chase & Co. cut their price objective on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of Varonis Systems in a report on Tuesday, June 10th.

Varonis Systems Stock Down 1.3%

Shares of NASDAQ:VRNS opened at $50.26 on Wednesday. The stock has a fifty day simple moving average of $46.59 and a two-hundred day simple moving average of $44.34. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of -62.05 and a beta of 0.76. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. The business had revenue of $136.42 million during the quarter, compared to analysts’ expectations of $133.10 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The firm’s revenue for the quarter was up 19.6% compared to the same quarter last year. On average, research analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Transactions at Varonis Systems

In other news, Director Den Bosch Fred Van sold 6,000 shares of the company’s stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the transaction, the director now owns 131,666 shares of the company’s stock, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock worth $544,124,000 after acquiring an additional 193,210 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Varonis Systems by 26.2% in the first quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company’s stock worth $165,231,000 after acquiring an additional 848,408 shares during the period. RGM Capital LLC boosted its stake in shares of Varonis Systems by 45.5% in the first quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company’s stock worth $109,479,000 after acquiring an additional 846,475 shares during the period. First Trust Advisors LP boosted its stake in shares of Varonis Systems by 4.8% in the fourth quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company’s stock worth $111,145,000 after acquiring an additional 113,573 shares during the period. Finally, Voya Investment Management LLC lifted its position in shares of Varonis Systems by 98.6% in the first quarter. Voya Investment Management LLC now owns 2,321,317 shares of the technology company’s stock worth $93,897,000 after buying an additional 1,152,687 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

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.