Varonis Systems’ (VRNS) “Buy” Rating Reiterated at Needham & Company LLC
Several other analysts have also weighed in on VRNS. Zacks Investment Research upgraded Varonis Systems from a hold rating to a buy rating and set a $42.00 price target on the stock in a report on Thursday, August 10th. Jefferies Group LLC increased their price target on Varonis Systems from $52.00 to $55.00 and gave the company a buy rating in a report on Friday. BidaskClub lowered Varonis Systems from a hold rating to a sell rating in a report on Tuesday, August 1st. Stifel Nicolaus restated a buy rating and set a $44.00 price target (up previously from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. Finally, Imperial Capital restated an outperform rating and set a $46.00 price target (up previously from $39.00) on shares of Varonis Systems in a report on Friday, August 4th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Varonis Systems currently has a consensus rating of Buy and an average price target of $44.90.
Shares of Varonis Systems (VRNS) opened at $47.80 on Friday. Varonis Systems has a twelve month low of $24.75 and a twelve month high of $51.70.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. Varonis Systems had a negative return on equity of 19.29% 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 quarter in the prior year, the firm posted ($0.03) EPS. Varonis Systems’s quarterly revenue was up 31.1% compared to the same quarter last year. equities research analysts forecast that Varonis Systems will post -0.58 EPS for the current year.
In other Varonis Systems news, SVP James O’boyle sold 40,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $40.88, for a total value of $1,635,200.00. Following the sale, the senior vice president now owns 124,189 shares in the company, valued at $5,076,846.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Guy Melamed sold 605 shares of the stock in a transaction 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 directly 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 quarter, insiders sold 465,013 shares of company stock worth $19,116,878. Insiders own 19.50% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in shares of Varonis Systems during the 2nd quarter worth $122,000. Fortaleza Asset Management Inc. bought a new position in shares of Varonis Systems during the 2nd quarter worth $151,000. Legal & General Group Plc grew its position in shares of Varonis Systems by 39.6% during the 2nd quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after buying an additional 1,223 shares in the last quarter. Adams Street Partners LLC bought a new position in shares of Varonis Systems during the 2nd quarter worth $163,000. Finally, Van ECK Associates Corp grew its position in shares of Varonis Systems by 5.9% during the 2nd 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 in the last quarter. 81.96% of the stock is currently owned by institutional investors and hedge funds.
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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