Varonis Systems (VRNS) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a sell rating in a research note published on Saturday.

According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “

Other analysts have also issued reports about the company. BidaskClub upgraded Varonis Systems from a hold rating to a buy rating in a research note on Wednesday, January 10th. Benchmark reiterated a buy rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Friday, December 1st. Needham & Company LLC boosted their price objective on Varonis Systems from $52.00 to $65.00 and gave the company a buy rating in a research note on Friday, January 19th. TheStreet upgraded Varonis Systems from a d+ rating to a c rating in a research note on Monday, February 12th. Finally, Royal Bank of Canada boosted their price objective on Varonis Systems to $63.00 and gave the company an outperform rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $57.92.

Shares of Varonis Systems (NASDAQ VRNS) opened at $56.30 on Friday. Varonis Systems has a one year low of $26.35 and a one year high of $56.80.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.07. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The company had revenue of $73.20 million for the quarter, compared to analyst estimates of $66.29 million. During the same period in the previous year, the company posted $0.24 EPS. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. equities research analysts expect that Varonis Systems will post -0.77 EPS for the current year.

In other news, CFO Guy Melamed sold 897 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total value of $43,908.15. Following the completion of the transaction, the chief financial officer now directly owns 95,408 shares in the company, valued at approximately $4,670,221.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Ohad Korkus sold 9,277 shares of the company’s stock in a transaction dated Friday, November 24th. The stock was sold at an average price of $51.28, for a total value of $475,724.56. Following the completion of the transaction, the chief technology officer now owns 84,510 shares of the company’s stock, valued at $4,333,672.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,754 shares of company stock valued at $11,352,516. 19.50% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. ETRADE Capital Management LLC purchased a new position in shares of Varonis Systems in the 4th quarter worth about $209,000. CAPROCK Group Inc. purchased a new position in shares of Varonis Systems in the 4th quarter worth about $220,000. Schmidt P J Investment Management Inc. purchased a new position in shares of Varonis Systems in the 3rd quarter worth about $243,000. Teacher Retirement System of Texas purchased a new position in shares of Varonis Systems in the 4th quarter worth about $254,000. Finally, Invictus RG purchased a new position in shares of Varonis Systems in the 4th quarter worth about $271,000. Hedge funds and other institutional investors own 84.91% of the company’s stock.

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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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