Varonis Systems (VRNS) Receives Buy Rating from Royal Bank Of Canada
Royal Bank Of Canada restated their buy rating on shares of Varonis Systems (NASDAQ:VRNS) in a research note released on Thursday morning. They currently have a $55.00 target price on the technology company’s stock.
VRNS has been the subject of a number of other research reports. Benchmark reissued a buy rating and issued a $60.00 target price on shares of Varonis Systems in a research note on Friday, December 1st. BidaskClub raised Varonis Systems from a sell rating to a hold rating in a research note on Wednesday, August 16th. Needham & Company LLC boosted their target price on Varonis Systems from $43.00 to $45.00 and gave the company a buy rating in a research note on Monday, August 14th. Zacks Investment Research raised Varonis Systems from a hold rating to a buy rating and set a $49.00 target price for the company in a research note on Thursday, November 2nd. Finally, Jefferies Group reissued a buy rating and issued a $45.00 target price on shares of Varonis Systems in a research note on Thursday, September 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average price target of $48.82.
Shares of Varonis Systems (NASDAQ VRNS) traded down $1.25 during mid-day trading on Thursday, reaching $48.30. The company’s stock had a trading volume of 721,000 shares, compared to its average volume of 298,842. Varonis Systems has a 52-week low of $24.75 and a 52-week high of $53.60.
Varonis Systems (NASDAQ:VRNS) last released its 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 18.97% and a negative net margin of 7.91%. The company had revenue of $53.60 million during the quarter, compared to analyst estimates of $50.53 million. During the same quarter in the previous year, the company posted ($0.03) EPS. Varonis Systems’s revenue for the quarter was up 31.1% on a year-over-year basis. sell-side analysts forecast that Varonis Systems will post -0.53 EPS for the current year.
In related news, CEO Yakov Faitelson sold 70,842 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $40.96, for a total value of $2,901,688.32. Following the transaction, the chief executive officer now directly owns 334,908 shares of the company’s stock, valued at approximately $13,717,831.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Ohad Korkus sold 9,277 shares of the company’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $51.28, for a total value of $475,724.56. Following the completion of the transaction, the chief technology officer now directly owns 84,510 shares in the company, valued at $4,333,672.80. The disclosure for this sale can be found here. Insiders have sold a total of 694,390 shares of company stock worth $31,285,353 in the last quarter. Company insiders own 19.50% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Varonis Systems by 30.4% during the 1st quarter. Vanguard Group Inc. now owns 744,340 shares of the technology company’s stock valued at $23,670,000 after buying an additional 173,332 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Varonis Systems by 4.9% during the 1st quarter. Geode Capital Management LLC now owns 137,106 shares of the technology company’s stock valued at $4,359,000 after buying an additional 6,434 shares during the period. Renaissance Technologies LLC bought a new position in shares of Varonis Systems during the 1st quarter valued at $340,000. Schwab Charles Investment Management Inc. lifted its holdings in shares of Varonis Systems by 7.6% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 51,147 shares of the technology company’s stock valued at $1,627,000 after buying an additional 3,591 shares during the period. Finally, Trexquant Investment LP lifted its holdings in shares of Varonis Systems by 10.2% during the 2nd quarter. Trexquant Investment LP now owns 15,895 shares of the technology company’s stock valued at $591,000 after buying an additional 1,476 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.
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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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