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

Key Points

• Varonis Systems, Inc. has received an average recommendation of "Moderate Buy" from analysts, with three holding ratings and thirteen buy ratings among sixteen ratings firms.
• The company's recent quarterly earnings report showed an EPS of $0.03, exceeding analysts' estimates, alongside a 16.7% year-over-year increase in revenue.
• Several brokerages raised their price targets for Varonis Systems, with new targets ranging from $62.00 to $65.00, indicating positive sentiment among investment analysts.

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) has been given an average recommendation of "Moderate Buy" by the sixteen ratings firms that are covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $58.50.

Several brokerages have commented on VRNS. Robert W. Baird lifted their price objective on shares of Varonis Systems from $58.00 to $63.00 and gave the company an "outperform" rating in a research note on Wednesday, July 30th. Barclays upped their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 30th. Wedbush upped their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 30th. Royal Bank Of Canada upped their target price on shares of Varonis Systems from $58.00 to $64.00 and gave the stock an "outperform" rating in a report on Wednesday, July 30th. Finally, UBS Group upped their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, July 30th.

Varonis Systems Trading Up 2.2%

NASDAQ VRNS opened at $58.10 on Thursday. The company's 50-day simple moving average is $51.92 and its two-hundred day simple moving average is $46.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.38 and a current ratio of 1.38. Varonis Systems has a one year low of $36.53 and a one year high of $60.58. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of -63.15 and a beta of 0.71.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The technology company reported $0.03 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.02. The firm had revenue of $152.16 million for the quarter, compared to the consensus estimate of $147.80 million. Varonis Systems had a negative net margin of 17.30% and a negative return on equity of 23.06%. The company's quarterly revenue was up 16.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.05 EPS. Equities analysts forecast that Varonis Systems will post -0.83 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Den Bosch Fred Van sold 6,000 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director directly owned 131,666 shares in the company, valued at $6,583,300. This represents a 4.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Guy Melamed sold 51,889 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $55.10, for a total value of $2,859,083.90. Following the completion of the transaction, the chief financial officer directly owned 470,602 shares of the company's stock, valued at approximately $25,930,170.20. The trade was a 9.93% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 60,889 shares of company stock worth $3,324,324. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Varonis Systems

Several institutional investors have recently modified their holdings of VRNS. Bessemer Group Inc. lifted its holdings in shares of Varonis Systems by 179.1% in the second quarter. Bessemer Group Inc. now owns 494 shares of the technology company's stock valued at $25,000 after buying an additional 317 shares during the period. Quarry LP acquired a new stake in shares of Varonis Systems in the fourth quarter valued at $36,000. Johnson Financial Group Inc. acquired a new stake in shares of Varonis Systems in the fourth quarter valued at $61,000. Transce3nd LLC acquired a new stake in shares of Varonis Systems in the fourth quarter valued at $62,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Varonis Systems by 344.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,213 shares of the technology company's stock valued at $62,000 after buying an additional 940 shares during the period. Institutional investors and hedge funds 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.

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