Varonis Systems, Inc. (VRNS) – What Are Researchers Saying About This Stock?

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have earned a consensus rating of “Hold” from the twenty-six research firms that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, twenty-one have issued a hold rating and four have issued a buy rating on the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $50.39.

VRNS has been the subject of a number of recent analyst reports. Citigroup boosted their price objective on shares of Varonis Systems from $45.00 to $49.75 and gave the stock a “neutral” rating in a report on Friday, October 16th. Wolfe Research downgraded Varonis Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. Royal Bank Of Canada lowered Varonis Systems from an “outperform” rating to a “neutral” rating in a report on Friday, October 16th. JPMorgan Chase & Co. boosted their price target on Varonis Systems from $39.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, July 27th. Finally, Piper Sandler downgraded Varonis Systems from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $58.00 to $49.75 in a report on Friday, October 16th.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently bought and sold shares of the business. Voya Investment Management LLC boosted its holdings in shares of Varonis Systems by 1.4% during the 3rd quarter. Voya Investment Management LLC now owns 3,771,009 shares of the technology company’s stock valued at $178,934,000 after acquiring an additional 51,422 shares during the last quarter. American Capital Management Inc. purchased a new position in shares of Varonis Systems during the second quarter valued at approximately $94,062,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in shares of Varonis Systems during the second quarter valued at approximately $61,262,000. Russell Investments Group Ltd. lifted its position in Varonis Systems by 41.0% during the third quarter. Russell Investments Group Ltd. now owns 1,008,115 shares of the technology company’s stock valued at $47,821,000 after purchasing an additional 293,245 shares during the period. Finally, Senvest Management LLC boosted its holdings in Varonis Systems by 406.1% in the first quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after purchasing an additional 1,162,651 shares during the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Price Performance

VRNS opened at $49.03 on Friday. The stock has a 50-day moving average price of $47.95 and a 200-day moving average price of $36.16. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.47 and a quick ratio of 1.47. The firm has a market cap of $5.65 billion, a PE ratio of -36.86 and a beta of 0.76. Varonis Systems has a 1 year low of $19.70 and a 1 year high of $50.31.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Tuesday, November 3rd. The technology company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.03 by $0.06. The company had revenue of $189.46 million for the quarter, compared to the consensus estimate of $186.74 million. Varonis Systems had a negative net margin of 21.38% and a negative return on equity of 22.20%. Varonis Systems’s revenue for the quarter was up 17.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.06 EPS. Sell-side analysts predict that Varonis Systems will post -0.92 earnings per share for the current fiscal year.

Varonis Systems Company Profile

Varonis Systems, Inc. develops cybersecurity software focused on protecting organizations’ data. Its platform helps businesses discover and classify sensitive information, manage access, identify potential threats, and remediate security risks across cloud and on-premises environments. The company’s offerings include data security, identity security, and threat-detection capabilities. They are designed to help organizations protect information in systems such as Microsoft 365, cloud infrastructure, and other business applications.