Analysts Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $59.19

Varonis Systems, Inc. (NASDAQ:VRNS) has been given a consensus rating of “Moderate Buy” by the eighteen ratings firms that are presently covering the firm, MarketBeat reports. Six analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $59.19.

A number of analysts recently issued reports on VRNS shares. Jefferies Financial Group dropped their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. JPMorgan Chase & Co. raised their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday, October 28th. UBS Group upped their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Barclays raised their price target on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a report on Wednesday, October 30th.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $44.58 on Wednesday. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of -59.44 and a beta of 0.83. The stock has a fifty day simple moving average of $49.23 and a two-hundred day simple moving average of $51.62. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The company had revenue of $148.07 million for the quarter, compared to analyst estimates of $141.62 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The company’s quarterly revenue was up 21.1% compared to the same quarter last year. Analysts anticipate that Varonis Systems will post -0.73 earnings per share for the current year.

Insider Activity at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the transaction, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. This trade represents a 10.12 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

A number of large investors have recently modified their holdings of VRNS. WCM Investment Management LLC bought a new stake in Varonis Systems during the 3rd quarter valued at approximately $17,419,000. Squarepoint Ops LLC boosted its position in shares of Varonis Systems by 167.9% during the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company’s stock valued at $21,755,000 after purchasing an additional 284,236 shares in the last quarter. Two Sigma Advisers LP boosted its position in shares of Varonis Systems by 46.7% during the third quarter. Two Sigma Advisers LP now owns 839,200 shares of the technology company’s stock valued at $47,415,000 after purchasing an additional 267,000 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Varonis Systems by 40.0% in the second quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company’s stock worth $38,361,000 after purchasing an additional 228,589 shares during the period. Finally, Thematics Asset Management raised its holdings in Varonis Systems by 40.2% in the third quarter. Thematics Asset Management now owns 530,000 shares of the technology company’s stock worth $29,945,000 after purchasing an additional 152,000 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

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.