Varonis Systems, Inc. (NASDAQ:VRNS) Stock Has Average Price Target of $50.39

Key Points

• Analyst consensus is “Hold”: Of 27 brokerages covering Varonis Systems, 22 rate it Hold, four Buy, and one Sell. The average 12-month price target is $50.39.
• Latest quarterly results topped expectations: Varonis reported EPS of $0.09 versus the $0.03 consensus and revenue of $189.46 million versus expectations of $186.74 million; revenue increased 17.3% year over year.
• Institutional investors own 95.65% of the company’s shares. Several funds recently established or expanded positions, including Senvest Management, which increased its holdings by 406.1%.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) has been assigned an average recommendation of "Hold" from the twenty-seven brokerages that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and four have assigned a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $50.39.

A number of equities analysts have commented on VRNS shares. Stephens downgraded Varonis Systems from an "overweight" rating to an "equal weight" rating in a research note on Tuesday, October 27th. Weiss Ratings raised shares of Varonis Systems from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, October 23rd. DA Davidson cut shares of Varonis Systems from a "buy" rating to a "neutral" rating and cut their price target for the company from $55.00 to $49.75 in a report on Friday, October 16th. Robert W. Baird upped their price target on Varonis Systems from $45.00 to $50.00 and gave the stock a "neutral" rating in a research report on Friday, October 16th. Finally, Truist Financial cut shares of Varonis Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 16th.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds have recently bought and sold shares of the business. American Capital Management Inc. purchased a new stake in Varonis Systems in the second quarter valued at about $94,062,000. Clal Insurance Enterprises Holdings Ltd acquired a new position in shares of Varonis Systems during the second quarter worth about $61,262,000. Senvest Management LLC boosted its holdings in shares of Varonis Systems by 406.1% in the first quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company's stock valued at $31,109,000 after acquiring an additional 1,162,651 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Varonis Systems by 218.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company's stock worth $30,262,000 after purchasing an additional 966,817 shares during the last quarter. Finally, Wellington Management Group LLP bought a new position in Varonis Systems in the second quarter worth $30,733,000. Institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

VRNS opened at $48.80 on Friday. Varonis Systems has a 12 month low of $19.70 and a 12 month high of $50.31. The stock has a market cap of $5.61 billion, a P/E ratio of -36.69 and a beta of 0.76. The company has a fifty day simple moving average of $47.61 and a 200 day simple moving average of $35.94. The company has a quick ratio of 1.65, a current ratio of 1.65 and a debt-to-equity ratio of 1.02.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.06. Varonis Systems had a negative net margin of 20.55% and a negative return on equity of 19.18%. The company had revenue of $189.46 million for the quarter, compared to analysts' expectations of $186.74 million. During the same quarter in the prior year, the firm earned $0.06 EPS. The business's revenue was up 17.3% on a year-over-year basis. On average, research analysts expect that Varonis Systems will post -0.94 EPS for the current year.

Varonis Systems Company Profile

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company's products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.

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