Varonis Systems, Inc. (NASDAQ:VRNS) Receives $55.06 Average Target Price from Brokerages

Varonis Systems, Inc. (NASDAQ:VRNS) has been given an average rating of “Moderate Buy” by the nineteen analysts that are currently covering the company, MarketBeat 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 analysts that have issued ratings on the stock in the last year is $55.06.

A number of equities research analysts have issued reports on VRNS shares. UBS Group upped their price objective on Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. Wall Street Zen upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research report on Monday, April 28th. Barclays decreased their price objective on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Morgan Stanley decreased their price objective on Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Finally, JPMorgan Chase & Co. decreased their price objective on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a research report on Monday, April 28th.

Insider Activity

In related news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the director now owns 131,666 shares of the company’s stock, valued at $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VRNS. Rhumbline Advisers grew its stake in Varonis Systems by 2.4% in the fourth quarter. Rhumbline Advisers now owns 164,580 shares of the technology company’s stock worth $7,312,000 after purchasing an additional 3,904 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in Varonis Systems by 2.1% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 42,373 shares of the technology company’s stock worth $1,883,000 after purchasing an additional 877 shares in the last quarter. Handelsbanken Fonder AB grew its stake in Varonis Systems by 31.2% in the fourth quarter. Handelsbanken Fonder AB now owns 28,600 shares of the technology company’s stock worth $1,271,000 after purchasing an additional 6,800 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Varonis Systems in the fourth quarter worth approximately $275,000. Finally, Los Angeles Capital Management LLC grew its stake in Varonis Systems by 16.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 21,510 shares of the technology company’s stock worth $956,000 after purchasing an additional 3,023 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

NASDAQ:VRNS opened at $50.26 on Wednesday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.23. The company has a market capitalization of $5.63 billion, a P/E ratio of -62.05 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 business’s 50-day moving average is $46.59 and its 200 day moving average is $44.34.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). The firm had revenue of $136.42 million during the quarter, compared to analysts’ expectations of $133.10 million. Varonis Systems had a negative return on equity of 20.01% and a negative net margin of 15.88%. Varonis Systems’s quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. On average, equities research analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

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.