Varonis Systems, Inc. (NASDAQ:VRNS) Receives $58.53 Consensus Price Target from Analysts

Varonis Systems, Inc. (NASDAQ:VRNS) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the firm, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation, thirteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $57.76.

A number of research firms recently weighed in on VRNS. Morgan Stanley started coverage on shares of Varonis Systems in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Barclays dropped their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday. Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Friday, March 28th. Finally, StockNews.com downgraded Varonis Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 11th.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VRNS. Quarry LP purchased a new position in shares of Varonis Systems during the fourth quarter valued at $36,000. Johnson Financial Group Inc. bought a new position in Varonis Systems during the 4th quarter worth about $61,000. Transce3nd LLC purchased a new position in Varonis Systems during the 4th quarter valued at about $62,000. New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems in the 4th quarter valued at about $70,000. Finally, NBC Securities Inc. lifted its position in shares of Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock worth $81,000 after purchasing an additional 2,004 shares during the period. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Trading Up 0.0 %

VRNS stock opened at $41.68 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems has a 1-year low of $36.53 and a 1-year high of $60.58. The business has a 50 day simple moving average of $41.51 and a two-hundred day simple moving average of $46.95. The company has a market capitalization of $4.69 billion, a price-to-earnings ratio of -48.46 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. Research analysts anticipate that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.