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

Varonis Systems, Inc. (NASDAQ:VRNS) has been assigned a consensus recommendation of “Moderate Buy” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $57.76.

Several research analysts recently issued reports on VRNS shares. Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, March 28th. Wells Fargo & Company decreased their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Piper Sandler decreased their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. Finally, Morgan Stanley started coverage on Varonis Systems in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock.

Varonis Systems Stock Performance

Shares of Varonis Systems stock opened at $41.68 on Friday. The company has a market capitalization of $4.69 billion, a PE ratio of -48.46 and a beta of 0.76. The company has a 50-day simple moving average of $41.51 and a two-hundred day simple moving average of $46.95. Varonis Systems has a one year low of $36.53 and a one year high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. Research analysts expect that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has initiated a stock repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently modified their holdings of VRNS. Quarry LP purchased a new position in Varonis Systems during the fourth quarter worth approximately $36,000. Johnson Financial Group Inc. acquired a new position in shares of Varonis Systems during the 4th quarter worth approximately $61,000. Transce3nd LLC acquired a new stake in Varonis Systems in the 4th quarter valued at $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems in the 4th quarter worth $70,000. Finally, NBC Securities Inc. raised its position in Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock worth $81,000 after acquiring an additional 2,004 shares during the period. Hedge funds and other institutional investors 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.