Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average recommendation of “Buy” by the thirteen research firms that are covering the company, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $43.33.
A number of equities analysts have recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 target price (up previously from $40.00) on shares of Varonis Systems in a research note on Friday, August 4th. BidaskClub raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Varonis Systems in a report on Friday, August 4th. Barclays PLC raised their price target on shares of Varonis Systems from $45.00 to $47.00 and gave the company an “equal weight” rating in a report on Friday, August 4th. Finally, Needham & Company LLC raised their price target on shares of Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 14th.
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In other Varonis Systems news, SVP James O’boyle sold 40,000 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $40.88, for a total transaction of $1,635,200.00. Following the completion of the transaction, the senior vice president now directly owns 124,189 shares of the company’s stock, valued at approximately $5,076,846.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Yakov Faitelson sold 70,842 shares of the firm’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $40.96, for a total transaction of $2,901,688.32. Following the transaction, the chief executive officer now directly owns 334,908 shares of the company’s stock, valued at $13,717,831.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 465,615 shares of company stock valued at $19,092,629. Company insiders own 19.50% of the company’s stock.
Hedge funds have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new position in Varonis Systems during the 2nd quarter worth $122,000. Fortaleza Asset Management Inc. acquired a new position in Varonis Systems during the 2nd quarter worth $151,000. Legal & General Group Plc grew its holdings in Varonis Systems by 39.6% during the 2nd quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after acquiring an additional 1,223 shares in the last quarter. Adams Street Partners LLC acquired a new position in Varonis Systems during the 2nd quarter worth $163,000. Finally, Van ECK Associates Corp grew its holdings in Varonis Systems by 5.9% during the 2nd quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after acquiring an additional 296 shares in the last quarter. 82.48% of the stock is owned by institutional investors.
Varonis Systems (NASDAQ:VRNS) traded up 1.03% during trading on Wednesday, hitting $44.25. 232,865 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $42.58 and its 200 day moving average price is $37.84. The stock’s market cap is $1.22 billion. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $45.20.
Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The business had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. During the same quarter last year, the firm posted ($0.12) EPS. The business’s revenue for the quarter was up 30.1% compared to the same quarter last year. Analysts anticipate that Varonis Systems will post $0.09 earnings per share for the current fiscal year.
Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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