Varonis Systems (NASDAQ:VRNS) Stock Rating Reaffirmed by Royal Bank of Canada

Varonis Systems (NASDAQ:VRNS – Get Rating)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a research report issued on Wednesday, Benzinga reports. They presently have a $31.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 20.11% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Needham & Company LLC cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Thursday, February 2nd. Robert W. Baird downgraded Varonis Systems from an “outperform” rating to a “neutral” rating and set a $30.00 price objective for the company. in a research report on Monday, January 30th. Wells Fargo & Company raised Varonis Systems from an “underweight” rating to an “equal weight” rating and set a $26.00 price target for the company in a report on Wednesday. JPMorgan Chase & Co. assumed coverage on Varonis Systems in a research note on Tuesday, January 24th. They set an “underweight” rating and a $25.00 price target for the company. Finally, Citigroup upped their target price on Varonis Systems from $25.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $30.94.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $25.81 on Wednesday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -22.64 and a beta of 0.88. The company has a quick ratio of 3.96, a current ratio of 3.96 and a debt-to-equity ratio of 0.50. The company has a 50 day moving average price of $26.30 and a 200 day moving average price of $24.85. Varonis Systems has a 52 week low of $15.61 and a 52 week high of $51.60.

Varonis Systems (NASDAQ:VRNS – Get Rating) last posted its quarterly earnings results on Monday, February 6th. The technology company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.03. Varonis Systems had a negative net margin of 26.29% and a negative return on equity of 23.10%. The company had revenue of $142.62 million during the quarter, compared to analyst estimates of $140.58 million. Sell-side analysts expect that Varonis Systems will post -0.82 EPS for the current year.

Insider Buying and Selling

In related news, Director Ofer Segev sold 1,500 shares of the firm’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $23.78, for a total value of $35,670.00. Following the completion of the transaction, the director now directly owns 72,410 shares of the company’s stock, valued at $1,721,909.80. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of VRNS. Norges Bank acquired a new position in Varonis Systems during the fourth quarter worth $25,432,000. Assenagon Asset Management S.A. raised its stake in Varonis Systems by 2,016.2% during the third quarter. Assenagon Asset Management S.A. now owns 956,826 shares of the technology company’s stock worth $25,375,000 after acquiring an additional 911,611 shares in the last quarter. William Blair Investment Management LLC raised its stake in Varonis Systems by 17.1% during the fourth quarter. William Blair Investment Management LLC now owns 6,181,738 shares of the technology company’s stock worth $147,991,000 after acquiring an additional 903,819 shares in the last quarter. Tremblant Capital Group raised its stake in Varonis Systems by 32.0% during the third quarter. Tremblant Capital Group now owns 3,185,723 shares of the technology company’s stock worth $84,485,000 after acquiring an additional 772,318 shares in the last quarter. Finally, Soma Equity Partners LP raised its stake in Varonis Systems by 27.3% during the fourth quarter. Soma Equity Partners LP now owns 3,500,000 shares of the technology company’s stock worth $83,790,000 after acquiring an additional 750,000 shares in the last quarter. 90.72% of the stock is owned by institutional investors.

Varonis Systems Company Profile

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Varonis Systems, Inc engages in protecting enterprise data such as sensitive files and emails, confidential customer, patient, and employee data, financial records, strategic and product plans, and other intellectual property. It operates through the following geographical segments: North America, EMEA, and Rest of the World.