BidaskClub downgraded shares of Varonis Systems (NASDAQ:VRNS) from a buy rating to a hold rating in a research report report published on Saturday.

Several other equities analysts have also commented on VRNS. Barclays restated a neutral rating on shares of Varonis Systems in a research report on Wednesday, February 13th. Robert W. Baird restated a buy rating and set a $60.00 price target (down previously from $75.00) on shares of Varonis Systems in a research report on Tuesday, February 12th. DA Davidson lowered their price target on shares of Varonis Systems to $62.00 and set a buy rating for the company in a research report on Tuesday, February 12th. Wedbush lowered their price target on shares of Varonis Systems from $68.00 to $55.00 and set a neutral rating for the company in a research report on Tuesday, February 12th. Finally, Royal Bank of Canada lowered their price target on shares of Varonis Systems from $80.00 to $65.00 and set an outperform rating for the company in a research report on Tuesday, February 12th. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Varonis Systems currently has an average rating of Buy and a consensus price target of $67.48.

Shares of NASDAQ:VRNS opened at $59.45 on Friday. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of -60.66 and a beta of 0.96. Varonis Systems has a 1-year low of $48.67 and a 1-year high of $83.10.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, February 11th. The technology company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.09 by $0.11. The company had revenue of $87.52 million for the quarter, compared to analysts’ expectations of $87.33 million. Varonis Systems had a negative net margin of 10.57% and a negative return on equity of 24.02%. Sell-side analysts anticipate that Varonis Systems will post -1.16 EPS for the current fiscal year.

In related news, CEO Yakov Faitelson sold 30,000 shares of the stock in a transaction dated Thursday, February 14th. The shares were sold at an average price of $54.72, for a total value of $1,641,600.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.20% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in VRNS. Mondrian Capital Management LLC bought a new position in Varonis Systems in the 4th quarter valued at about $53,000. Psagot Investment House Ltd. grew its position in Varonis Systems by 32.0% in the 4th quarter. Psagot Investment House Ltd. now owns 1,061 shares of the technology company’s stock valued at $56,000 after buying an additional 257 shares in the last quarter. NumerixS Investment Technologies Inc grew its position in Varonis Systems by 257.1% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock valued at $133,000 after buying an additional 1,800 shares in the last quarter. Amalgamated Bank bought a new position in Varonis Systems in the 4th quarter valued at about $218,000. Finally, Stone Ridge Asset Management LLC bought a new position in Varonis Systems in the 4th quarter valued at about $228,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

About Varonis Systems

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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