Varonis Systems, Inc. (VRNS) Receives $43.20 Average PT from Analysts
Shares of Varonis Systems, Inc. (NASDAQ:VRNS) have been given an average rating of “Buy” by the thirteen analysts that are covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $43.20.
A number of equities research analysts recently weighed in on VRNS shares. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, August 10th. Needham & Company LLC lifted their target price on Varonis Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. BidaskClub downgraded Varonis Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 target price (up from $41.00) on shares of Varonis Systems in a research report on Friday, August 4th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $44.00 target price (up from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th.
Varonis Systems (VRNS) traded up 3.10% during trading on Friday, hitting $43.25. 432,775 shares of the stock were exchanged. The stock’s market cap is $1.19 billion. The stock’s 50 day moving average price is $39.56 and its 200 day moving average price is $36.08. Varonis Systems has a 12 month low of $24.45 and a 12 month high of $43.35.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.09. The business had revenue of $50.20 million during the quarter, compared to analysts’ expectations of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.12) EPS. Analysts forecast that Varonis Systems will post $0.09 EPS for the current fiscal year.
In related news, insider Ohad Korkus sold 98,331 shares of the firm’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $40.68, for a total value of $4,000,105.08. Following the completion of the sale, the insider now owns 139,108 shares in the company, valued at $5,658,913.44. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Yakov Faitelson sold 7,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $38.00, for a total transaction of $266,000.00. Following the completion of the sale, the chief executive officer now owns 370,989 shares of the company’s stock, valued at approximately $14,097,582. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 609,977 shares of company stock valued at $24,359,243. 19.50% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. State of Wisconsin Investment Board grew its holdings in Varonis Systems by 67.0% during the second quarter. State of Wisconsin Investment Board now owns 192,000 shares of the technology company’s stock worth $7,142,000 after acquiring an additional 77,000 shares during the period. Credit Suisse AG lifted its holdings in Varonis Systems by 109.5% in the first quarter. Credit Suisse AG now owns 290,948 shares of the technology company’s stock valued at $9,252,000 after acquiring an additional 152,048 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Varonis Systems by 168,951.4% in the second quarter. BNP Paribas Arbitrage SA now owns 121,717 shares of the technology company’s stock valued at $4,528,000 after acquiring an additional 121,645 shares during the period. Unterberg Capital LLC lifted its holdings in Varonis Systems by 66.7% in the second quarter. Unterberg Capital LLC now owns 125,000 shares of the technology company’s stock valued at $4,650,000 after acquiring an additional 50,000 shares during the period. Finally, Oxford Asset Management purchased a new position in Varonis Systems in the first quarter valued at about $263,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.
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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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