Analysts Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $55.50

Varonis Systems, Inc. (NASDAQ:VRNS) has been given an average rating of “Moderate Buy” by the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $56.67.

A number of analysts recently issued reports on the stock. Royal Bank Of Canada raised their price objective on shares of Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. JPMorgan Chase & Co. dropped their price objective on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Robert W. Baird raised their target price on Varonis Systems from $55.00 to $58.00 and gave the stock an “outperform” rating in a research report on Thursday. Wells Fargo & Company upped their price objective on shares of Varonis Systems from $46.00 to $51.00 and gave the company an “equal weight” rating in a report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Monday, April 28th.

Insider Buying and Selling at Varonis Systems

In other news, Director Den Bosch Fred Van sold 6,000 shares of Varonis Systems stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the sale, the director owned 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds have recently bought and sold shares of VRNS. Quarry LP purchased a new stake in shares of Varonis Systems during the 4th quarter valued at $36,000. Johnson Financial Group Inc. bought a new position in Varonis Systems in the fourth quarter valued at $61,000. Transce3nd LLC bought a new position in Varonis Systems in the fourth quarter valued at $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems during the fourth quarter valued at about $70,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Varonis Systems during the first quarter worth about $69,000. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Trading Up 2.5%

Shares of VRNS stock opened at $54.69 on Friday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.15 and a current ratio of 1.15. The company has a market capitalization of $6.12 billion, a price-to-earnings ratio of -67.52 and a beta of 0.76. Varonis Systems has a 52-week low of $36.53 and a 52-week high of $60.58. The company has a 50-day simple moving average of $49.88 and a two-hundred day simple moving average of $45.15.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). The business had revenue of $136.42 million during the quarter, compared to the consensus estimate of $133.10 million. Varonis Systems had a negative net margin of 15.88% and a negative return on equity of 20.01%. The business’s revenue was up 19.6% on a year-over-year basis. During the same period in the prior year, the company earned ($0.03) earnings per share. Research analysts anticipate that Varonis Systems will post -0.83 EPS 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.