BidaskClub Lowers Varonis Systems (NASDAQ:VRNS) to Hold

BidaskClub cut shares of Varonis Systems (NASDAQ:VRNS) from a buy rating to a hold rating in a report issued on Friday, BidAskClub reports.

VRNS has been the subject of several other research reports. Benchmark lifted their price objective on shares of Varonis Systems from $112.00 to $130.00 and gave the stock a buy rating in a research note on Tuesday, August 4th. SunTrust Banks began coverage on shares of Varonis Systems in a research report on Thursday, July 23rd. They issued a buy rating and a $130.00 price target for the company. Barclays increased their price target on Varonis Systems from $110.00 to $120.00 and gave the stock an overweight rating in a research report on Monday, July 20th. Morgan Stanley lifted their price objective on Varonis Systems from $77.00 to $127.00 and gave the company an overweight rating in a report on Tuesday, August 4th. Finally, Piper Sandler increased their target price on Varonis Systems from $110.00 to $130.00 and gave the stock an overweight rating in a report on Tuesday, August 4th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $117.28.

Shares of NASDAQ:VRNS opened at $122.43 on Friday. Varonis Systems has a 12-month low of $48.95 and a 12-month high of $130.91. The business has a 50 day moving average of $118.03 and a 200-day moving average of $98.45. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.74. The stock has a market cap of $3.86 billion, a PE ratio of -43.26 and a beta of 1.12.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, October 26th. The technology company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.19. The business had revenue of $76.80 million during the quarter, compared to the consensus estimate of $69.93 million. Varonis Systems had a negative return on equity of 97.77% and a negative net margin of 33.75%. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.16) EPS. Equities research analysts expect that Varonis Systems will post -2.73 earnings per share for the current year.

In other Varonis Systems news, Director Den Bosch Fred Van sold 1,000 shares of the stock in a transaction dated Tuesday, October 13th. The stock was sold at an average price of $130.00, for a total value of $130,000.00. Following the completion of the transaction, the director now directly owns 44,984 shares in the company, valued at $5,847,920. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gilad Raz sold 4,601 shares of Varonis Systems stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $124.62, for a total value of $573,376.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 79,695 shares of company stock valued at $9,583,931. 2.70% of the stock is owned by corporate insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Davy Global Fund Management Ltd increased its stake in shares of Varonis Systems by 110.7% in the third quarter. Davy Global Fund Management Ltd now owns 8,448 shares of the technology company’s stock valued at $975,000 after buying an additional 4,439 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Varonis Systems by 172.5% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the technology company’s stock valued at $126,000 after buying an additional 690 shares during the period. Envestnet Asset Management Inc. acquired a new position in shares of Varonis Systems in the third quarter valued at approximately $203,000. Assenagon Asset Management S.A. acquired a new position in shares of Varonis Systems in the third quarter valued at approximately $7,672,000. Finally, Carroll Financial Associates Inc. increased its stake in shares of Varonis Systems by 790.7% in the third quarter. Carroll Financial Associates Inc. now owns 383 shares of the technology company’s stock valued at $44,000 after buying an additional 340 shares during the period.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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