Brokerages Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $48.81

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have received an average rating of “Moderate Buy” from the seventeen brokerages that are covering the firm, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $48.81.

Several analysts recently commented on the stock. Robert W. Baird upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. JMP Securities reaffirmed a “market outperform” rating and set a $63.00 price target on shares of Varonis Systems in a report on Monday, February 5th. JPMorgan Chase & Co. boosted their price objective on shares of Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research note on Tuesday, February 6th. Wedbush upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $35.00 to $65.00 in a research report on Tuesday, February 6th. Finally, Citigroup increased their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, January 10th.

Insider Activity

In other Varonis Systems news, VP Dov Gottlieb sold 43,091 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the transaction, the vice president now directly owns 227,654 shares in the company, valued at approximately $10,931,945.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Guy Melamed sold 188,503 shares of Varonis Systems stock in a transaction dated Thursday, February 8th. The stock was sold at an average price of $49.88, for a total transaction of $9,402,529.64. Following the completion of the sale, the chief financial officer now owns 645,876 shares in the company, valued at approximately $32,216,294.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Dov Gottlieb sold 43,091 shares of the business’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the transaction, the vice president now directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. Insiders sold a total of 372,419 shares of company stock worth $18,571,413 over the last 90 days. 2.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VRNS. Quadrant Capital Group LLC boosted its position in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after acquiring an additional 429 shares during the last quarter. NBC Securities Inc. acquired a new stake in shares of Varonis Systems during the first quarter worth $68,000. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Varonis Systems in the fourth quarter valued at $77,000. International Assets Investment Management LLC grew its position in shares of Varonis Systems by 1,779.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,886 shares during the period. Finally, Assetmark Inc. acquired a new position in Varonis Systems in the fourth quarter valued at $98,000. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Stock Up 1.1 %

Varonis Systems stock opened at $45.33 on Friday. The company has a market capitalization of $5.06 billion, a P/E ratio of -49.27 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50. Varonis Systems has a fifty-two week low of $22.34 and a fifty-two week high of $52.88. The stock has a 50-day simple moving average of $47.54 and a 200-day simple moving average of $43.73.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. Equities research analysts expect that Varonis Systems will post -0.96 earnings per share for the current year.

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.