Varonis Systems (NASDAQ:VRNS) Earns Overweight Rating from Cantor Fitzgerald

Varonis Systems (NASDAQ:VRNS)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a report released on Tuesday,Benzinga reports. They presently have a $60.00 price target on the technology company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 18.10% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Varonis Systems’ FY2026 earnings at ($0.65) EPS.

Other research analysts also recently issued research reports about the stock. Jefferies Financial Group dropped their price target on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Barclays cut their price target on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Wall Street Zen raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Monday, April 28th. Royal Bank of Canada raised their price target 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. Finally, JPMorgan Chase & Co. decreased their target price on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating for the company in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.06.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $0.16 during midday trading on Tuesday, hitting $50.81. 236,565 shares of the company traded hands, compared to its average volume of 1,537,534. The firm’s fifty day moving average price is $44.10 and its 200-day moving average price is $44.28. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of -59.07 and a beta of 0.76. Varonis Systems has a 12 month low of $36.53 and a 12 month 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 announced its quarterly earnings results on Tuesday, May 6th. The technology company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.26). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. The firm had revenue of $136.42 million for the quarter, compared to analyst estimates of $133.10 million. During the same period in the previous year, the business posted ($0.03) earnings per share. The business’s revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has initiated a stock repurchase program on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total value of $300,000.00. Following the transaction, the director now owns 131,666 shares of the company’s stock, valued at approximately $6,583,300. This represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds have recently made changes to their positions in VRNS. Quarry LP purchased a new stake in shares of Varonis Systems during the 4th quarter worth approximately $36,000. Johnson Financial Group Inc. bought a new stake in Varonis Systems in the fourth quarter worth $61,000. Transce3nd LLC purchased a new stake in Varonis Systems during the fourth quarter valued at $62,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in Varonis Systems during the first quarter valued at $69,000. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Varonis Systems in the 4th quarter worth $70,000. Institutional investors own 95.65% of the company’s stock.

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.