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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) have been given an average recommendation of "Moderate Buy" by the nineteen research firms that are covering the company, 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 1 year target price among analysts that have issued a report on the stock in the last year is $55.06.

A number of analysts have commented on the company. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a research report on Wednesday, February 5th. Barclays cut their price target on shares of Varonis Systems from $60.00 to $52.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Cantor Fitzgerald restated an "overweight" rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Wednesday. UBS Group increased their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Wells Fargo & Company lowered 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 report on Wednesday, February 5th.

Varonis Systems Stock Down 0.4 %

Shares of VRNS traded down $0.18 during mid-day trading on Tuesday, hitting $45.30. 1,370,252 shares of the company traded hands, compared to its average volume of 1,525,368. The company has a market capitalization of $5.07 billion, a PE ratio of -52.67 and a beta of 0.79. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The business has a 50 day moving average of $41.35 and a 200 day moving average of $45.13. Varonis Systems has a 1-year low of $36.53 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.26). The company had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.03) EPS. Equities research analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

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

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds have recently made changes to their positions in VRNS. Quarry LP purchased a new stake in shares of Varonis Systems during the fourth quarter worth approximately $36,000. Johnson Financial Group Inc. purchased a new position in shares of Varonis Systems in the fourth quarter worth about $61,000. Transce3nd LLC purchased a new position in shares of Varonis Systems in the fourth quarter worth about $62,000. New Age Alpha Advisors LLC acquired a new position in Varonis Systems during the fourth quarter worth about $70,000. Finally, NBC Securities Inc. grew its stake in Varonis Systems by 100,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after acquiring an additional 2,004 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

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.