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

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the nineteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $55.06.

Several research firms have issued reports on VRNS. Wolfe Research upgraded Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research note on Friday, March 28th. UBS Group increased their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Wednesday, February 5th. Barclays decreased their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley cut their target price on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in Varonis Systems by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company's stock valued at $544,124,000 after purchasing an additional 193,210 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Varonis Systems by 26.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 4,084,830 shares of the technology company's stock worth $165,231,000 after buying an additional 848,408 shares during the period. RGM Capital LLC raised its stake in shares of Varonis Systems by 45.5% during the first quarter. RGM Capital LLC now owns 2,706,531 shares of the technology company's stock worth $109,479,000 after buying an additional 846,475 shares during the last quarter. First Trust Advisors LP lifted its holdings in 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 valued at $111,145,000 after buying an additional 113,573 shares during the period. Finally, William Blair Investment Management LLC boosted its stake in Varonis Systems by 2.4% in the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company's stock valued at $101,750,000 after acquiring an additional 52,971 shares during the last quarter. Institutional investors own 95.65% of the company's stock.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $0.65 during trading on Friday, hitting $47.90. 1,317,161 shares of the company's stock traded hands, compared to its average volume of 1,534,180. The company has a market cap of $5.36 billion, a PE ratio of -55.70 and a beta of 0.79. The firm's fifty day moving average price is $43.05 and its 200 day moving average price is $44.28. Varonis Systems has a twelve month low of $36.53 and a twelve month high of $60.58. 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 - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $136.42 million for the quarter, compared to analyst estimates of $133.10 million. During the same period in the previous year, the firm posted ($0.03) earnings per share. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. Analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

Varonis Systems announced that its board has authorized a share repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.