Cantor Fitzgerald Reiterates Overweight Rating for Varonis Systems (NASDAQ:VRNS)

Varonis Systems (NASDAQ:VRNS)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research note issued on Tuesday,Benzinga reports. They currently have a $60.00 price objective on the technology company’s stock. Cantor Fitzgerald’s price objective suggests a potential upside of 18.10% from the stock’s previous close. Cantor Fitzgerald also issued estimates for Varonis Systems’ FY2026 earnings at ($0.65) EPS.

A number of other research analysts have also recently commented on the stock. Barclays reduced their target price on shares of Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a research report on Monday, April 14th. Royal Bank of Canada upped their target price on Varonis Systems from $55.00 to $58.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Wolfe Research raised Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Friday, March 28th. Finally, Jefferies Financial Group dropped their target price on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Six equities research 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.06.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $0.16 during trading on Tuesday, reaching $50.81. The company’s stock had a trading volume of 236,565 shares, compared to its average volume of 1,537,534. The business has a 50 day moving average price of $44.10 and a 200-day moving average price of $44.28. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $5.69 billion, a P/E ratio of -59.07 and a beta of 0.76. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, May 6th. The technology company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.26). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. The company had revenue of $136.42 million for the quarter, compared to analyst estimates of $133.10 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has approved a share repurchase program on Monday, February 10th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, Director Den Bosch Fred Van sold 6,000 shares of the stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $50.00, for a total transaction of $300,000.00. Following the completion of the transaction, the director now directly owns 131,666 shares in the company, valued at approximately $6,583,300. This trade represents a 4.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Trading of Varonis Systems

A number of large investors have recently added to or reduced their stakes in VRNS. Rhumbline Advisers lifted its holdings in Varonis Systems by 5.7% during the 1st quarter. Rhumbline Advisers now owns 173,984 shares of the technology company’s stock valued at $7,038,000 after purchasing an additional 9,404 shares during the last quarter. Strs Ohio acquired a new stake in shares of Varonis Systems during the 1st quarter worth about $380,000. Intech Investment Management LLC boosted its holdings in shares of Varonis Systems by 24.3% during the 1st quarter. Intech Investment Management LLC now owns 59,923 shares of the technology company’s stock worth $2,424,000 after buying an additional 11,715 shares during the period. Focus Partners Wealth acquired a new position in Varonis Systems in the 1st quarter valued at about $3,973,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Varonis Systems by 11.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 619,257 shares of the technology company’s stock valued at $25,049,000 after acquiring an additional 64,636 shares during the period. 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.