Varonis Systems, Inc. (VRNS) Stock Rating Reaffirmed by Royal Bank Of Canada
Varonis Systems, Inc. (NASDAQ:VRNS)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a report released on Monday. They presently have a $44.00 target price on the technology company’s stock. Royal Bank Of Canada’s target price would suggest a potential upside of 10.83% from the stock’s current price.
Several other equities analysts also recently commented on VRNS. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Varonis Systems in a research note on Thursday, September 7th. BidaskClub downgraded shares of Varonis Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Needham & Company LLC increased their price objective on shares of Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Varonis Systems in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $43.20.
Varonis Systems (NASDAQ VRNS) opened at 39.70 on Monday. The company has a 50-day moving average of $38.03 and a 200 day moving average of $34.64. Varonis Systems has a 52-week low of $24.45 and a 52-week high of $40.00. The company’s market cap is $1.09 billion.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The business had revenue of $50.20 million for the quarter, compared to analyst estimates of $47.50 million. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The firm’s revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) EPS. Equities research analysts predict that Varonis Systems will post $0.09 EPS for the current year.
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In other news, CFO Guy Melamed sold 5,074 shares of the firm’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $37.50, for a total transaction of $190,275.00. Following the completion of the transaction, the chief financial officer now owns 98,991 shares of the company’s stock, valued at $3,712,162.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gili Iohan sold 50,000 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $39.32, for a total transaction of $1,966,000.00. Following the transaction, the director now directly owns 59,650 shares of the company’s stock, valued at approximately $2,345,438. The disclosure for this sale can be found here. Insiders have sold 377,231 shares of company stock valued at $14,402,824 in the last ninety days. Insiders own 19.50% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in shares of Varonis Systems during the second quarter valued at $122,000. Fortaleza Asset Management Inc. bought a new position in shares of Varonis Systems during the second quarter valued at $151,000. Legal & General Group Plc raised its stake in shares of Varonis Systems by 39.6% during the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,223 shares during the last quarter. Adams Street Partners LLC bought a new position in shares of Varonis Systems during the second quarter valued at $163,000. Finally, Van ECK Associates Corp raised its stake in shares of Varonis Systems by 5.9% during the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after acquiring an additional 296 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.
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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