Varonis Systems, Inc. (NASDAQ:VRNS) Receives Average Recommendation of "Moderate Buy" from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the seventeen research firms that are covering the company, Marketbeat reports. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $48.81.

A number of research analysts recently weighed in on VRNS shares. Wedbush raised Varonis Systems from a "neutral" rating to an "outperform" rating and upped their price target for the stock from $35.00 to $65.00 in a research note on Tuesday, February 6th. Piper Sandler upped their price target on Varonis Systems from $40.00 to $45.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 6th. Truist Financial reissued a "buy" rating and issued a $55.00 price objective (up from $50.00) on shares of Varonis Systems in a research note on Wednesday, March 13th. Robert W. Baird increased their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock a "neutral" rating in a research note on Tuesday, February 6th. Finally, Citigroup increased their price objective on Varonis Systems from $35.00 to $45.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 10th.

Varonis Systems Trading Up 1.1 %

Shares of NASDAQ:VRNS traded up $0.49 during midday trading on Friday, reaching $45.33. The company's stock had a trading volume of 608,846 shares, compared to its average volume of 1,178,647. The firm has a market capitalization of $5.06 billion, a price-to-earnings ratio of -49.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a 50 day moving average price of $47.54 and a two-hundred day moving average price of $43.54. Varonis Systems has a fifty-two week low of $22.34 and a fifty-two week high of $52.88.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million for the quarter, compared to the consensus estimate of $151.64 million. As a group, analysts forecast that Varonis Systems will post -0.96 earnings per share for the current year.

Insiders Place Their Bets

In other Varonis Systems news, 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 value of $985,530.00. Following the completion of the sale, the director now directly owns 19,263 shares of the company's stock, valued at $973,552.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Gili Iohan sold 19,500 shares of Varonis Systems stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at $973,552.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Ofer Segev sold 5,000 shares of Varonis Systems stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the transaction, the director now owns 75,682 shares of the company's stock, valued at $3,945,302.66. The disclosure for this sale can be found here. Insiders sold 372,419 shares of company stock valued at $18,571,413 over the last ninety days. 2.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently made changes to their positions in VRNS. Lord Abbett & CO. LLC purchased a new position in shares of Varonis Systems in the third quarter valued at $36,317,000. Norges Bank purchased a new position in shares of Varonis Systems in the fourth quarter valued at $50,723,000. Cadian Capital Management LP boosted its stake in Varonis Systems by 34.6% during the third quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company's stock valued at $109,160,000 after buying an additional 919,334 shares during the period. Principal Financial Group Inc. boosted its stake in Varonis Systems by 5,876.4% during the fourth quarter. Principal Financial Group Inc. now owns 679,520 shares of the technology company's stock valued at $30,769,000 after buying an additional 668,150 shares during the period. Finally, Loomis Sayles & Co. L P boosted its stake in Varonis Systems by 30.0% during the third quarter. Loomis Sayles & Co. L P now owns 1,424,248 shares of the technology company's stock valued at $43,496,000 after buying an additional 329,045 shares during the period. 95.65% of the stock is currently 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.