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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) have received a consensus rating of "Moderate Buy" from the nineteen brokerages that are currently covering the stock, MarketBeat.com reports. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $57.76.

VRNS has been the topic of a number of recent research reports. Citigroup decreased their target price on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Wells Fargo & Company reduced their target price on shares of Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating for the company in a report on Wednesday, February 5th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target on the stock. Finally, Piper Sandler reduced their price objective on shares of Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th.

Varonis Systems Stock Performance

VRNS stock traded down $0.52 during trading on Friday, reaching $41.16. The stock had a trading volume of 27,678 shares, compared to its average volume of 1,719,090. The firm has a market cap of $4.63 billion, a PE ratio of -47.86 and a beta of 0.76. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock's 50 day moving average is $41.51 and its two-hundred day moving average is $46.95. Varonis Systems has a 52 week low of $36.53 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. As a group, equities analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current year.

Varonis Systems declared that its board has authorized a share repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds have recently bought and sold shares of VRNS. Norges Bank purchased a new position in shares of Varonis Systems in the 4th quarter worth $56,561,000. Groupama Asset Managment purchased a new position in Varonis Systems in the fourth quarter worth about $55,538,000. Assenagon Asset Management S.A. increased its stake in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company's stock worth $50,026,000 after acquiring an additional 995,274 shares during the last quarter. Deutsche Bank AG raised its position in Varonis Systems by 97.7% during the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company's stock valued at $59,467,000 after purchasing an additional 661,436 shares during the period. Finally, Two Sigma Advisers LP lifted its stake in shares of Varonis Systems by 64.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company's stock valued at $61,322,000 after purchasing an additional 541,000 shares during the last quarter. Hedge funds and other institutional investors 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.