Stifel Nicolaus reissued their buy rating on shares of Varonis Systems, Inc. (NASDAQ:VRNS) in a research note issued to investors on Monday. The brokerage currently has a $48.00 price target on the technology company’s stock, up from their previous price target of $44.00.
A number of other analysts also recently commented on the company. Needham & Company LLC boosted their price objective on Varonis Systems from $38.00 to $43.00 and gave the stock a buy rating in a research note on Monday, May 15th. Morgan Stanley raised Varonis Systems from an underweight rating to an equal weight rating and boosted their target price for the stock from $24.00 to $35.00 in a research report on Wednesday, June 21st. Zacks Investment Research lowered Varonis Systems from a hold rating to a sell rating in a research report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a buy rating and set a $42.00 target price on shares of Varonis Systems in a research report on Thursday, July 20th. Finally, Barclays PLC reaffirmed a hold rating and set a $45.00 target price on shares of Varonis Systems in a research report on Wednesday, July 19th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $43.20.
Shares of Varonis Systems (NASDAQ:VRNS) opened at 39.30 on Monday. The firm’s market cap is $1.08 billion. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $40.00. The firm has a 50-day moving average price of $37.99 and a 200 day moving average price of $34.60.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. During the same quarter in the previous year, the business earned ($0.12) EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities research analysts anticipate that Varonis Systems will post $0.09 earnings per share for the current fiscal year.
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In other news, Director Gili Iohan sold 7,618 shares of Varonis Systems stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $37.00, for a total transaction of $281,866.00. Following the transaction, the director now owns 60,017 shares in the company, valued at $2,220,629. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ohad Korkus sold 57,938 shares of Varonis Systems stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $39.04, for a total value of $2,261,899.52. Following the transaction, the insider now owns 214,108 shares in the company, valued at approximately $8,358,776.32. The disclosure for this sale can be found here. Insiders have sold 377,231 shares of company stock worth $14,402,824 in the last quarter. 19.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently modified their holdings of VRNS. Oppenheimer Asset Management Inc. purchased a new position in shares of Varonis Systems during the second quarter valued at $122,000. Fortaleza Asset Management Inc. purchased a new position in shares of Varonis Systems during the second quarter valued at $151,000. Legal & General Group Plc grew its holdings in shares of Varonis Systems by 39.6% during the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after buying an additional 1,223 shares in the last quarter. Adams Street Partners LLC purchased a new position in shares of Varonis Systems during the second quarter valued at $163,000. Finally, Van ECK Associates Corp grew its holdings in shares of Varonis Systems by 5.9% during the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after buying an additional 296 shares in the last quarter. Institutional investors and hedge funds own 82.41% 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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