Varonis Systems’ (VRNS) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Varonis Systems (NASDAQ:VRNS) in a report published on Monday morning,Benzinga reports. The firm currently has a $67.00 target price on the technology company’s stock.

Other equities research analysts also recently issued reports about the company. DA Davidson decreased their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. increased their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Jefferies Financial Group decreased their target price on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research report on Thursday, December 19th. Royal Bank of Canada restated an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.35.

Varonis Systems Price Performance

Shares of VRNS stock opened at $44.24 on Monday. Varonis Systems has a 1-year low of $41.13 and a 1-year high of $60.58. The stock’s 50-day moving average is $48.70 and its 200 day moving average is $51.69. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market cap of $4.98 billion, a P/E ratio of -58.99 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million for the quarter, compared to analysts’ expectations of $141.62 million. During the same quarter last year, the company earned ($0.22) EPS. The business’s revenue was up 21.1% on a year-over-year basis. Research analysts predict that Varonis Systems will post -0.73 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares of the company’s stock, valued at approximately $26,540,252.64. The trade was a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

Several large investors have recently made changes to their positions in the stock. Quantbot Technologies LP grew its position in shares of Varonis Systems by 61.4% during the 3rd quarter. Quantbot Technologies LP now owns 113,671 shares of the technology company’s stock worth $6,422,000 after purchasing an additional 43,258 shares in the last quarter. Lisanti Capital Growth LLC boosted its position in shares of Varonis Systems by 17.0% during the 3rd quarter. Lisanti Capital Growth LLC now owns 74,305 shares of the technology company’s stock worth $4,198,000 after acquiring an additional 10,820 shares in the last quarter. Vontobel Holding Ltd. increased its stake in Varonis Systems by 226.9% in the third quarter. Vontobel Holding Ltd. now owns 20,595 shares of the technology company’s stock valued at $1,164,000 after acquiring an additional 14,295 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Varonis Systems by 14.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 350,470 shares of the technology company’s stock valued at $19,802,000 after purchasing an additional 44,826 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in Varonis Systems in the 3rd quarter valued at approximately $1,872,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

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.