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

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average rating of “Moderate Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given 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 $59.38.

A number of analysts have recently weighed in on VRNS shares. Needham & Company LLC reissued a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Piper Sandler lowered their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Royal Bank of Canada restated an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Cantor Fitzgerald initiated coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price for the company. Finally, DA Davidson reduced their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th.

Hedge Funds Weigh In On Varonis Systems

A number of institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC increased its stake in shares of Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after purchasing an additional 298 shares in the last quarter. Teza Capital Management LLC increased its stake in shares of Varonis Systems by 3.1% in the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock valued at $437,000 after purchasing an additional 299 shares in the last quarter. Virtue Capital Management LLC increased its stake in shares of Varonis Systems by 2.3% in the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after purchasing an additional 364 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Varonis Systems by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock valued at $512,000 after purchasing an additional 365 shares in the last quarter. Finally, Bailard Inc. increased its stake in shares of Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock valued at $4,160,000 after purchasing an additional 417 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Trading Down 0.1 %

VRNS opened at $42.81 on Thursday. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of -49.78 and a beta of 0.83. The stock’s 50 day moving average price is $44.34 and its 200-day moving average price is $50.53. Varonis Systems has a one year low of $39.62 and a one year high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. On average, equities analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems declared that its board has authorized a share buyback plan on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is 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.