Varonis Systems (NASDAQ:VRNS) Stock Rating Reaffirmed by Needham & Company LLC

Varonis Systems (NASDAQ:VRNS)‘s stock had its “hold” rating reiterated by research analysts at Needham & Company LLC in a research report issued to clients and investors on Tuesday, Benzinga reports.

A number of other research analysts have also issued reports on VRNS. Susquehanna lifted their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday. Robert W. Baird raised Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $52.00 to $60.00 in a report on Tuesday. Barclays lifted their target price on Varonis Systems from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Thursday, July 11th. JPMorgan Chase & Co. raised Varonis Systems from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $50.00 to $54.00 in a report on Friday, June 14th. Finally, Piper Sandler lifted their target price on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a report on Tuesday. Six equities research 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.00.

Varonis Systems Price Performance

Shares of VRNS opened at $55.13 on Tuesday. The firm has a market capitalization of $6.15 billion, a price-to-earnings ratio of -58.65 and a beta of 0.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.38. Varonis Systems has a one year low of $28.15 and a one year high of $57.00. The stock’s fifty day moving average is $45.91 and its 200-day moving average is $46.46.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 18.28% and a negative net margin of 16.97%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share. Equities analysts anticipate that Varonis Systems will post -0.97 EPS for the current year.

Insiders Place Their Bets

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the sale, the chief executive officer now directly owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Institutional investors have recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its holdings in shares of Varonis Systems by 87.2% during the 4th quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after buying an additional 429 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Varonis Systems during the 1st quarter valued at about $63,000. NBC Securities Inc. acquired a new stake in shares of Varonis Systems during the 1st quarter valued at about $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Varonis Systems during the 4th quarter valued at about $77,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of Varonis Systems by 1,779.2% during the 4th quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after buying an additional 1,886 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.