Varonis Systems, Inc. (NASDAQ:VRNS) Given Consensus Rating of “Buy” by Brokerages
Varonis Systems, Inc. (NASDAQ:VRNS) has received an average recommendation of “Buy” from the thirteen ratings firms that are presently covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $42.40.
Several brokerages have commented on VRNS. ValuEngine raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 target price (up from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. Zacks Investment Research raised Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 target price on the stock in a report on Thursday. Barclays PLC reaffirmed a “hold” rating and set a $37.00 target price on shares of Varonis Systems in a report on Sunday, May 7th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $40.00 price objective (up from $39.00) on shares of Varonis Systems in a research note on Friday, May 5th.
Varonis Systems (NASDAQ:VRNS) traded up 0.56% during midday trading on Friday, reaching $35.85. The company had a trading volume of 232,871 shares. The company’s 50-day moving average is $37.71 and its 200 day moving average is $33.17. The company’s market cap is $986.02 million. Varonis Systems has a 52-week low of $24.45 and a 52-week high of $40.00.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.12) EPS. On average, equities research analysts forecast that Varonis Systems will post $0.09 EPS for the current year.
In related news, Director Rona Segev-Gal sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $36.65, for a total transaction of $183,250.00. Following the transaction, the director now directly owns 24,907 shares of the company’s stock, valued at approximately $912,841.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Yakov Faitelson sold 915 shares of the company’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $37.00, for a total value of $33,855.00. Following the transaction, the chief executive officer now directly owns 434,489 shares in the company, valued at $16,076,093. The disclosure for this sale can be found here. Insiders sold a total of 344,998 shares of company stock worth $13,084,586 over the last three months. 19.50% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC purchased a new position in Varonis Systems during the second quarter worth $4,684,000. Vanguard Group Inc. increased its position in Varonis Systems by 11.0% in 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 during the period. Northern Trust Corp increased its position in Varonis Systems by 48.2% in the second quarter. Northern Trust Corp now owns 230,489 shares of the technology company’s stock worth $8,574,000 after buying an additional 74,919 shares during the period. Van ECK Associates Corp increased its position in Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after buying an additional 296 shares during the period. Finally, UBS Asset Management Americas Inc. increased its position in Varonis Systems by 316.7% in 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 during the period. 63.89% of the stock is currently owned by institutional investors and hedge funds.
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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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