Varonis Systems' (VRNS) "Overweight" Rating Reiterated at Cantor Fitzgerald

Varonis Systems (NASDAQ:VRNS - Get Free Report)'s stock had its "overweight" rating reaffirmed by stock analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $60.00 target price on the technology company's stock. Cantor Fitzgerald's target price would indicate a potential upside of 15.81% from the stock's current price.

Several other research firms have also commented on VRNS. Morgan Stanley reduced their price target on shares of Varonis Systems from $54.00 to $46.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. JPMorgan Chase & Co. reduced 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 report on Monday, April 28th. UBS Group lifted their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Wells Fargo & Company lifted their target price on shares of Varonis Systems from $46.00 to $51.00 and gave the company an "equal weight" rating in a report on Monday. Finally, Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 target price for the company in a report on Friday, March 28th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.78.

Varonis Systems Price Performance

Varonis Systems stock traded down $0.13 during midday trading on Tuesday, reaching $51.81. The company had a trading volume of 828,375 shares, compared to its average volume of 1,532,235. The company has a market capitalization of $5.80 billion, a P/E ratio of -63.96 and a beta of 0.76. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The firm's fifty day simple moving average is $49.56 and its 200-day simple moving average is $45.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.15 and a quick ratio of 1.15.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its earnings results 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 return on equity of 20.01% and a negative net margin of 15.88%. The business had revenue of $136.42 million during the quarter, compared to analysts' expectations of $133.10 million. During the same period last year, the business earned ($0.03) earnings per share. The company's revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, equities analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Insiders Place Their Bets

In other news, Director Den Bosch Fred Van sold 6,000 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $50.00, for a total value of $300,000.00. Following the completion of the sale, the director directly owned 131,666 shares of the company's stock, valued at approximately $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP acquired a new position in shares of Varonis Systems during the fourth quarter worth about $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems during the fourth quarter worth about $61,000. Transce3nd LLC acquired a new position in Varonis Systems during the fourth quarter worth about $62,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Varonis Systems during the first quarter worth about $69,000. Finally, New Age Alpha Advisors LLC acquired a new position in Varonis Systems during the fourth quarter worth about $70,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

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.