Varonis Systems, Inc. (NASDAQ:VRNS) Given Consensus Recommendation of “Buy” by Analysts

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been assigned an average recommendation of “Buy” from the twenty-three brokerages that are covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $67.33.

Several research analysts have recently weighed in on VRNS shares. Zacks Investment Research upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Friday, October 8th. TheStreet upgraded shares of Varonis Systems from a “d” rating to a “c-” rating in a research note on Monday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price target on shares of Varonis Systems in a research note on Tuesday, August 3rd. Royal Bank of Canada lifted their target price on shares of Varonis Systems from $75.00 to $78.00 and gave the company an “outperform” rating in a research note on Tuesday, August 3rd. Finally, Piper Sandler lifted their target price on shares of Varonis Systems from $67.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, July 9th.

In other Varonis Systems news, SVP James O’boyle sold 104,823 shares of the business’s stock in a transaction dated Friday, September 17th. The shares were sold at an average price of $68.75, for a total value of $7,206,581.25. Following the completion of the sale, the senior vice president now directly owns 358,702 shares of the company’s stock, valued at approximately $24,660,762.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ofer Segev sold 1,500 shares of the business’s stock in a transaction dated Tuesday, October 5th. The shares were sold at an average price of $61.43, for a total transaction of $92,145.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 156,634 shares of company stock worth $10,901,470. Insiders own 1.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. The PNC Financial Services Group Inc. raised its stake in shares of Varonis Systems by 224.4% during the 1st quarter. The PNC Financial Services Group Inc. now owns 665 shares of the technology company’s stock worth $34,000 after acquiring an additional 460 shares in the last quarter. Berman Capital Advisors LLC raised its stake in shares of Varonis Systems by 42.5% during the 3rd quarter. Berman Capital Advisors LLC now owns 607 shares of the technology company’s stock worth $36,000 after acquiring an additional 181 shares in the last quarter. Credit Agricole S A bought a new position in shares of Varonis Systems during the 1st quarter worth approximately $46,000. Itau Unibanco Holding S.A. acquired a new position in Varonis Systems during the 2nd quarter valued at approximately $48,000. Finally, Stephens Inc. AR increased its stake in Varonis Systems by 49.8% during the 1st quarter. Stephens Inc. AR now owns 981 shares of the technology company’s stock valued at $50,000 after purchasing an additional 326 shares in the last quarter. 95.40% of the stock is owned by hedge funds and other institutional investors.

Shares of VRNS stock opened at $61.66 on Thursday. Varonis Systems has a 12-month low of $37.39 and a 12-month high of $75.33. The company has a current ratio of 4.94, a quick ratio of 4.94 and a debt-to-equity ratio of 0.39. The firm’s 50 day moving average is $63.90 and its 200 day moving average is $57.50. The stock has a market capitalization of $6.59 billion, a P/E ratio of -57.45 and a beta of 1.17.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Sunday, August 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.03) by $0.02. Varonis Systems had a negative net margin of 31.88% and a negative return on equity of 25.90%. The company had revenue of $88.40 million for the quarter, compared to analysts’ expectations of $83.70 million. During the same quarter last year, the company posted ($0.15) earnings per share. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. As a group, equities analysts predict that Varonis Systems will post -0.81 earnings per share for the current year.

About Varonis Systems

Varonis Systems, Inc engages in providing data security and analytics. It operates through the following segments: United States, EMEA, and Rest of the World. Its products includes datadvantage, data classification engine, data transport engine, Varonis edge, datanswers, datalert, dataprivilege, automation engine, and GDPR patterns.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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