Varonis Systems’ (VRNS) “Hold” Rating Reaffirmed at Barclays PLC
Barclays PLC reissued their hold rating on shares of Varonis Systems, Inc. (NASDAQ:VRNS) in a report issued on Wednesday, July 19th. The brokerage currently has a $45.00 target price on the technology company’s stock.
Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus raised shares of Varonis Systems from a hold rating to a buy rating and boosted their target price for the company from $34.00 to $36.00 in a research report on Thursday, March 23rd. Zacks Investment Research raised shares of Varonis Systems from a hold rating to a buy rating and set a $34.00 target price for the company in a research report on Tuesday, April 18th. Benchmark Co. initiated coverage on shares of Varonis Systems in a research report on Thursday, April 27th. They issued a buy rating and a $40.00 target price for the company. Needham & Company LLC initiated coverage on shares of Varonis Systems in a research report on Monday, May 1st. They set a buy rating and a $38.00 price objective for the company. Finally, Royal Bank Of Canada reaffirmed an outperform rating and set a $40.00 price objective (up previously from $39.00) on shares of Varonis Systems in a research report on Friday, May 5th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus target price of $40.82.
Shares of Varonis Systems (VRNS) opened at 37.30 on Wednesday. The firm has a 50-day moving average of $37.64 and a 200-day moving average of $32.95. Varonis Systems has a one year low of $24.45 and a one year high of $40.00. The company’s market capitalization is $1.02 billion.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The firm had revenue of $50.20 million during the quarter, compared to analysts’ expectations of $47.50 million. During the same period in the previous year, the business posted ($0.12) earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. Equities research analysts expect that Varonis Systems will post $0.01 EPS for the current fiscal year.
In other Varonis Systems news, SVP James O’boyle sold 20,000 shares of the stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $38.50, for a total transaction of $770,000.00. Following the transaction, the senior vice president now directly owns 144,189 shares in the company, valued at approximately $5,551,276.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Gili Iohan sold 12,382 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $36.49, for a total value of $451,819.18. Following the transaction, the director now owns 62,450 shares in the company, valued at $2,278,800.50. The disclosure for this sale can be found here. Insiders sold 338,436 shares of company stock valued at $12,825,387 in the last ninety days. 19.50% of the stock is currently owned by insiders.
Several institutional investors have recently modified their holdings of VRNS. Credit Suisse AG raised its stake in Varonis Systems by 109.5% in the first quarter. Credit Suisse AG now owns 290,948 shares of the technology company’s stock worth $9,252,000 after buying an additional 152,048 shares during the last quarter. Highbridge Capital Management LLC raised its stake in Varonis Systems by 519.4% in the fourth quarter. Highbridge Capital Management LLC now owns 47,553 shares of the technology company’s stock worth $1,274,000 after buying an additional 39,876 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Varonis Systems during the first quarter worth approximately $286,000. Oxford Asset Management bought a new stake in Varonis Systems during the first quarter worth approximately $263,000. Finally, Penserra Capital Management LLC raised its stake in Varonis Systems by 14,598.8% in the first quarter. Penserra Capital Management LLC now owns 559,142 shares of the technology company’s stock worth $17,780,000 after buying an additional 555,338 shares during the last quarter. Institutional investors own 63.89% of the company’s stock.
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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