Varonis Systems Sees Unusually Large Options Volume (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) saw unusually large options trading activity on Wednesday. Investors bought 4,719 call options on the stock. This represents an increase of approximately 524% compared to the average volume of 756 call options.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. UBS Group raised their target price on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price objective for the company in a research report on Friday, March 28th. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. JPMorgan Chase & Co. cut their price target on shares of Varonis Systems from $55.00 to $45.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Finally, 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 research note on Monday, April 14th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $55.06.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently modified their holdings of the company. Barclays PLC increased its position in shares of Varonis Systems by 10.0% in the third quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after buying an additional 35,274 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Varonis Systems during the 3rd quarter worth $232,000. Franklin Resources Inc. raised its stake in Varonis Systems by 14.5% in the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock valued at $2,383,000 after purchasing an additional 5,031 shares during the last quarter. Principal Financial Group Inc. raised its stake in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after purchasing an additional 147,081 shares during the last quarter. Finally, Diversified Trust Co raised its stake in Varonis Systems by 12.2% in the 4th quarter. Diversified Trust Co now owns 15,113 shares of the technology company's stock valued at $671,000 after purchasing an additional 1,639 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

Varonis Systems Trading Up 1.2%

Shares of VRNS traded up $0.54 during trading hours on Monday, reaching $45.84. 1,457,799 shares of the company traded hands, compared to its average volume of 1,527,587. The firm has a market cap of $5.13 billion, a price-to-earnings ratio of -53.30 and a beta of 0.79. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. 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 fifty day moving average price is $41.35 and its 200 day moving average price is $44.97.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing the consensus estimate 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 net margin of 17.38% and a negative return on equity of 20.35%. The business's revenue for the quarter was up 19.6% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. Sell-side analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

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

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.