Varonis Systems, Inc. (NASDAQ:VRNS) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have earned an average recommendation of “Moderate Buy” from the eighteen ratings firms that are currently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $59.38.

Several research firms have recently issued reports on VRNS. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Piper Sandler decreased their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Morgan Stanley began coverage on shares of Varonis Systems in a research report on Tuesday. They set an “overweight” rating on the stock. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Finally, StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th.

Varonis Systems Stock Down 1.3 %

Varonis Systems stock opened at $41.00 on Monday. The company has a market capitalization of $4.61 billion, a P/E ratio of -47.67 and a beta of 0.85. The firm’s fifty day simple moving average is $43.05 and its 200-day simple moving average is $48.74. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a 1-year low of $39.11 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing the consensus estimate 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%. Sell-side analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Varonis Systems

Large investors have recently modified their holdings of the stock. 111 Capital bought a new stake in shares of Varonis Systems during the fourth quarter worth approximately $261,000. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Varonis Systems during the fourth quarter worth approximately $207,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Varonis Systems during the fourth quarter worth approximately $6,848,000. Virtue Capital Management LLC raised its stake in shares of Varonis Systems by 6.5% during the fourth quarter. Virtue Capital Management LLC now owns 17,320 shares of the technology company’s stock worth $770,000 after buying an additional 1,056 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. raised its stake in shares of Varonis Systems by 0.3% during the fourth quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 395,820 shares of the technology company’s stock worth $17,586,000 after buying an additional 1,073 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

About Varonis Systems

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.