Varonis Systems, Inc. (NASDAQ:VRNS) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received a consensus rating of “Moderate Buy” from the eighteen brokerages that are covering the stock, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $59.38.

A number of equities research analysts recently commented on the company. Citigroup decreased their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Morgan Stanley assumed coverage on Varonis Systems in a research note on Tuesday, March 18th. They set an “overweight” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. Piper Sandler decreased their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Wells Fargo & Company decreased their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th.

Institutional Trading of Varonis Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP bought a new stake in Varonis Systems during the fourth quarter worth about $36,000. Johnson Financial Group Inc. bought a new stake in Varonis Systems during the fourth quarter worth about $61,000. Transce3nd LLC bought a new stake in Varonis Systems during the fourth quarter worth about $62,000. New Age Alpha Advisors LLC bought a new stake in Varonis Systems during the fourth quarter worth about $70,000. Finally, Pacer Advisors Inc. raised its holdings in Varonis Systems by 29.5% during the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after acquiring an additional 603 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Stock Down 1.3 %

NASDAQ VRNS opened at $41.00 on Monday. The stock has a fifty day moving average of $43.05 and a 200-day moving average of $48.65. The stock has a market capitalization of $4.61 billion, a P/E ratio of -47.67 and a beta of 0.85. Varonis Systems has a 52 week low of $39.11 and a 52 week 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 data 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 return on equity of 20.35% and a negative net margin of 17.38%. On average, equities research analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has approved a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors 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.