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

Varonis Systems, Inc. (NASDAQ:VRNS) has been given an average recommendation of “Moderate Buy” by the nineteen research firms that are currently covering the firm, Marketbeat.com reports. Five research 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 price objective among brokers that have issued a report on the stock in the last year is $58.53.

A number of analysts recently issued reports on VRNS shares. Piper Sandler dropped their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. DA Davidson reduced their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Wells Fargo & Company dropped their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Finally, Morgan Stanley began coverage on Varonis Systems in a report on Tuesday, March 18th. They issued an “overweight” rating for the company.

Institutional Trading of Varonis Systems

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $56,561,000. Groupama Asset Managment acquired a new position in Varonis Systems in the fourth quarter worth $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 valued at $50,026,000 after purchasing an additional 995,274 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Varonis Systems by 97.7% during the fourth quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company’s stock worth $59,467,000 after purchasing an additional 661,436 shares during the period. Finally, Two Sigma Advisers LP lifted its position 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 worth $61,322,000 after buying an additional 541,000 shares during the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Stock Down 0.5 %

Shares of VRNS opened at $41.14 on Friday. The firm has a market cap of $4.63 billion, a PE ratio of -47.84 and a beta of 0.76. 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 company’s fifty day moving average is $41.62 and its two-hundred day moving average is $47.27. Varonis Systems has a fifty-two week low of $36.53 and a fifty-two week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

Varonis Systems declared that its board has approved a share buyback program on Monday, February 10th that permits the company to repurchase $100.00 million in 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 typically a sign that the company’s board believes its shares are 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.