A Technical View of the Varonis Systems Inc. (VRNS)

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Varonis Systems Inc. (NASDAQ:VRNS) saw a downside of -0.92% to $25.33 after subtracting -$0.24 on Wednesday. The 5-day average trading volume is 804,828 shares of the company’s common stock. It has gained $26.33 in the past week and touched a new high 4 times within the past 5 days. An average of 854,197 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 1,219,057.

VRNS’s 1-month performance is 7.12% or $1.94 on its low of $22.01 reached on 01/04/23. The company’s shares have touched a 52-week low of $15.61 and high of $51.60, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, VRNS has achieved 6.81% or $1.42 and has reached a new high 6 times. However, the current price is down -50.90% from the 52-week high price.

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Insider Transactions

VRNS stock investors last saw insider trading activity on Jan 05.Segev Ofer (Director) most recently sold 1,500 shares at $23.78 per share on Jan 05. This transaction cost the insider $35,670. Director, Segev Ofer, sold 1,500 shares at a price of $27.51 on Oct 05. Then, on Jul 06, Director Segev Ofer sold 1,500 shares at a price of $31.48 per share. This transaction amounted to $47,216.

Valuation Metrics

VRNS stock has a beta of 0.87. Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 6.03 while the price-to-book (PB) in the most recent quarter is 5.28.

Varonis Systems Inc.’s quick ratio for the period ended September 29 was 4.40, with the current ratio over the same period at 4.40. As well, the company’s long term debt to equity for the quarter ending September 29 was 0.47, while the total debt to equity was 0.47. In terms of profitability, the gross margin trailing 12 months is 84.70%.

Earnings Surprise

For the quarterly period ending September 29 this year, Varonis Systems Inc.’s cash and short-term investments amounted to $36.11 million against total debt of $317.18 million. Net income grew 18.84% to -$28.72 million, while revenue of -$36.29 million was -26.36% off the previous quarter. Analysts expected VRNS to announce $0.06 per share in earnings in its latest quarter, but it posted $0.05, representing a -16.70% surprise.

Let’s look briefly at Varonis Systems Inc. (VRNS) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 60.78% to suggest the stock is trending Neutral, with historical volatility in this time period at 22.43%.

The stock’s 5-day moving average is $25.53, reflecting a +1.40% or $0.35 change from its current price. VRNS is currently trading +8.28% above its 20-day SMA, -7.28% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +28.02% and SMA200 by-43.82%.

Stochastic %K and %D was 85.32% and 89.37% and the average true range (ATR) pointed at 0.99. The RSI (14) points at 60.12%, while the 14-day stochastic is at 76.63% with the period’s ATR at 1.06. The stock’s 9-day MACD Oscillator is pointing at 0.34 and 0.87 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Varonis Systems Inc. (NASDAQ: VRNS), JP Morgan launched coverage with an Underweight rating.

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