Varonis Systems Inc (NASDAQ:VRNS) Given Consensus Recommendation of “Buy” by Brokerages

Varonis Systems Inc (NASDAQ:VRNS) has been assigned a consensus recommendation of “Buy” from the nineteen ratings firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, seven have issued a hold rating and ten have given a buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $71.31.

VRNS has been the subject of a number of research analyst reports. Wedbush upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and set a $85.00 price target for the company in a research report on Tuesday, April 30th. BidaskClub downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research report on Saturday, March 16th. Stifel Nicolaus boosted their target price on Varonis Systems from $52.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Zacks Investment Research upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Finally, UBS Group boosted their target price on Varonis Systems from $68.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 30th.

Shares of VRNS traded up $0.06 during trading hours on Monday, reaching $61.56. 8,387 shares of the company’s stock traded hands, compared to its average volume of 270,747. The company has a market capitalization of $1.86 billion, a PE ratio of -62.81 and a beta of 1.12. The firm’s 50 day simple moving average is $66.87. Varonis Systems has a 12 month low of $48.67 and a 12 month high of $82.90.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.64) by ($0.04). The business had revenue of $56.40 million for the quarter, compared to the consensus estimate of $59.36 million. Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.22) EPS. On average, sell-side analysts anticipate that Varonis Systems will post -1.75 earnings per share for the current year.

In other Varonis Systems news, EVP David Bass sold 42,416 shares of Varonis Systems stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $72.54, for a total value of $3,076,856.64. Following the transaction, the executive vice president now directly owns 202,833 shares of the company’s stock, valued at approximately $14,713,505.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by insiders.

Institutional investors and hedge funds have recently bought and sold shares of the company. FMR LLC boosted its holdings in Varonis Systems by 81.3% in the first quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock worth $82,793,000 after acquiring an additional 622,639 shares in the last quarter. Nordea Investment Management AB lifted its holdings in shares of Varonis Systems by 20.3% during the first quarter. Nordea Investment Management AB now owns 84,201 shares of the technology company’s stock valued at $5,021,000 after purchasing an additional 14,231 shares in the last quarter. Clearbridge Investments LLC lifted its holdings in shares of Varonis Systems by 54.3% during the first quarter. Clearbridge Investments LLC now owns 883,113 shares of the technology company’s stock valued at $52,660,000 after purchasing an additional 310,737 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its holdings in shares of Varonis Systems by 34.9% during the first quarter. Jacobs Levy Equity Management Inc. now owns 168,976 shares of the technology company’s stock valued at $10,076,000 after purchasing an additional 43,670 shares in the last quarter. Finally, Jackson Square Partners LLC increased its position in Varonis Systems by 9.4% during the first quarter. Jackson Square Partners LLC now owns 1,386,551 shares of the technology company’s stock valued at $82,680,000 after acquiring an additional 119,454 shares during the last quarter. 89.57% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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