Brokerages Set Varonis Systems, Inc. (NASDAQ:VRNS) PT at $56.00

Varonis Systems, Inc. (NASDAQ:VRNS) has received a consensus rating of “Moderate Buy” from the nineteen analysts that are presently covering the company, Marketbeat.com reports. Five investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $55.06.

A number of analysts recently commented on the company. JPMorgan Chase & Co. decreased their price objective on Varonis Systems from $55.00 to $45.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Barclays lowered their price objective on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. UBS Group boosted their price target on Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Finally, Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Friday, March 28th.

Institutional Trading of Varonis Systems

A number of hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new position in Varonis Systems during the fourth quarter valued at $56,561,000. Groupama Asset Managment bought a new stake in shares of Varonis Systems during the 4th quarter worth $55,538,000. Assenagon Asset Management S.A. grew its stake in shares of Varonis Systems by 761.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock worth $50,026,000 after acquiring an additional 995,274 shares during the last quarter. Deutsche Bank AG grew its holdings in shares of Varonis Systems by 97.7% during the 4th quarter. Deutsche Bank AG now owns 1,338,452 shares of the technology company’s stock worth $59,467,000 after purchasing an additional 661,436 shares in the last quarter. Finally, Two Sigma Advisers LP grew its stake in shares of Varonis Systems by 64.5% in the 4th quarter. Two Sigma Advisers LP now owns 1,380,200 shares of the technology company’s stock valued at $61,322,000 after purchasing an additional 541,000 shares during the period. 95.65% of the stock is owned by hedge funds and other institutional investors.

Varonis Systems Price Performance

Shares of VRNS opened at $45.47 on Tuesday. The firm’s fifty day simple moving average is $41.27 and its 200-day simple moving average is $45.22. Varonis Systems has a twelve month low of $36.53 and a twelve month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of -52.87 and a beta of 0.79.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data 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 return on equity of 20.35% and a negative net margin of 17.38%. The firm had revenue of $136.42 million for the quarter, compared to analysts’ expectations of $133.10 million. During the same quarter in the previous year, the company posted ($0.03) EPS. The firm’s quarterly revenue was up 19.6% compared to the same quarter last year. Equities analysts forecast that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has authorized a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management 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.