Varonis Systems (NASDAQ:VRNS)‘s stock had its “buy” rating reissued by analysts at Stephens in a note issued to investors on Friday. They presently have a $58.00 price objective on the technology company’s stock. Stephens’ target price indicates a potential upside of 11.43% from the stock’s previous close.
Several other brokerages have also commented on VRNS. BidaskClub raised Varonis Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Oppenheimer assumed coverage on Varonis Systems in a research report on Wednesday, December 6th. They issued an “outperform” rating and a $57.00 target price on the stock. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Jefferies Group raised their target price on Varonis Systems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Barclays restated a “neutral” rating on shares of Varonis Systems in a research report on Tuesday, December 19th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $50.45.
Shares of Varonis Systems (VRNS) traded down $0.15 on Friday, reaching $52.05. The company’s stock had a trading volume of 164,700 shares, compared to its average volume of 206,944. Varonis Systems has a one year low of $25.20 and a one year high of $53.60. The firm has a market capitalization of $1,449.01, a price-to-earnings ratio of -89.74 and a beta of 0.80.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The company had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. During the same period last year, the company earned ($0.03) earnings per share. Varonis Systems’s quarterly revenue was up 31.1% compared to the same quarter last year. research analysts predict that Varonis Systems will post -0.53 EPS for the current year.
In related news, CTO Ohad Korkus sold 9,277 shares of Varonis Systems stock in a transaction that occurred on Friday, November 24th. The stock was sold at an average price of $51.28, for a total transaction of $475,724.56. Following the transaction, the chief technology officer now owns 84,510 shares in the company, valued at $4,333,672.80. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 605 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.65, for a total value of $26,408.25. Following the transaction, the chief financial officer now owns 95,491 shares in the company, valued at approximately $4,168,182.15. The disclosure for this sale can be found here. In the last 90 days, insiders sold 287,384 shares of company stock worth $14,505,934. Company insiders own 19.50% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Varonis Systems by 11.0% during the second quarter. Vanguard Group Inc. now owns 826,449 shares of the technology company’s stock worth $30,744,000 after buying an additional 82,109 shares in the last quarter. ETF Managers Group LLC purchased a new position in Varonis Systems during the second quarter worth approximately $18,092,000. Renaissance Technologies LLC lifted its position in Varonis Systems by 4,112.1% during the second quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock worth $16,766,000 after buying an additional 440,000 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in Varonis Systems by 316.7% during the second quarter. UBS Asset Management Americas Inc. now owns 384,434 shares of the technology company’s stock worth $14,301,000 after buying an additional 292,178 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Varonis Systems by 4.2% during the third quarter. Bank of New York Mellon Corp now owns 367,787 shares of the technology company’s stock worth $15,412,000 after buying an additional 14,829 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.
About Varonis Systems
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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