Varonis Systems Inc (VRNS) Given Consensus Rating of “Buy” by Analysts

Shares of Varonis Systems Inc (NASDAQ:VRNS) have received a consensus recommendation of “Buy” from the twenty-one research firms that are currently covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $66.19.

A number of brokerages have recently issued reports on VRNS. Barclays reissued a “neutral” rating on shares of Varonis Systems in a research note on Wednesday. ValuEngine cut shares of Varonis Systems from a “strong-buy” rating to a “buy” rating in a research note on Wednesday. DA Davidson reduced their price objective on shares of Varonis Systems to $62.00 and set a “buy” rating for the company in a research note on Tuesday, February 12th. Wedbush cut their target price on shares of Varonis Systems from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, February 12th. Finally, CIBC cut their target price on shares of Varonis Systems from $80.00 to $68.00 and set an “outperform” rating for the company in a research note on Tuesday, February 12th.

In related news, CEO Yakov Faitelson sold 30,000 shares of the firm’s stock in a transaction on Thursday, February 14th. The shares were sold at an average price of $54.72, for a total transaction of $1,641,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.20% of the company’s stock.

Several large investors have recently modified their holdings of VRNS. Mondrian Capital Management LLC purchased a new position in shares of Varonis Systems in the 4th quarter worth $53,000. NumerixS Investment Technologies Inc grew its stake in shares of Varonis Systems by 257.1% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock worth $133,000 after buying an additional 1,800 shares in the last quarter. Amalgamated Bank purchased a new position in shares of Varonis Systems in the 4th quarter worth $218,000. Stone Ridge Asset Management LLC purchased a new position in shares of Varonis Systems in the 4th quarter worth $228,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of Varonis Systems in the 3rd quarter worth $243,000. 83.75% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ VRNS traded down $1.07 during midday trading on Tuesday, reaching $54.45. The stock had a trading volume of 554,856 shares, compared to its average volume of 544,556. The stock has a market cap of $1.61 billion, a PE ratio of -55.56 and a beta of 0.99. Varonis Systems has a 12-month low of $48.67 and a 12-month high of $83.10.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, February 11th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.11. The firm had revenue of $87.52 million during the quarter, compared to analysts’ expectations of $87.33 million. Varonis Systems had a negative net margin of 10.57% and a negative return on equity of 24.02%. On average, sell-side analysts expect that Varonis Systems will post -0.93 earnings per share for the current fiscal year.

About Varonis Systems

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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