William Blair started coverage on shares of Varonis Systems (NASDAQ:VRNS) in a research note published on Thursday, Benzinga reports. The brokerage issued an outperform rating on the technology company’s stock.

A number of other equities research analysts have also recently commented on VRNS. Jefferies Financial Group increased their price objective on shares of Varonis Systems from to and gave the company a buy rating in a research note on Tuesday. Morgan Stanley increased their price objective on shares of Varonis Systems from $97.00 to $105.00 and gave the company an overweight rating in a research note on Tuesday. ValuEngine cut shares of Varonis Systems from a buy rating to a hold rating in a research note on Friday, January 3rd. BidaskClub raised shares of Varonis Systems from a hold rating to a buy rating in a research note on Wednesday, February 5th. Finally, Zacks Investment Research cut shares of Varonis Systems from a buy rating to a hold rating in a research note on Tuesday, December 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have given a buy rating to the stock. The company presently has a consensus rating of Buy and a consensus target price of $94.27.

NASDAQ VRNS traded up $0.22 during trading hours on Thursday, reaching $92.63. The company’s stock had a trading volume of 337,630 shares, compared to its average volume of 294,477. The stock has a market cap of $2.81 billion, a PE ratio of -35.49 and a beta of 0.92. Varonis Systems has a fifty-two week low of $52.52 and a fifty-two week high of $93.24. The company’s 50-day moving average is $83.95 and its two-hundred day moving average is $73.03.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, February 10th. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.38. The firm had revenue of $72.60 million for the quarter, compared to analysts’ expectations of $72.05 million. Varonis Systems had a negative net margin of 30.99% and a negative return on equity of 72.60%. The firm’s revenue was down 17.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 EPS. As a group, equities research analysts forecast that Varonis Systems will post -2.03 earnings per share for the current year.

In related news, EVP David Bass sold 5,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $76.41, for a total value of $420,255.00. Also, CEO Yakov Faitelson sold 65,176 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $83.49, for a total transaction of $5,441,544.24. The disclosure for this sale can be found here. Insiders sold 82,441 shares of company stock worth $6,867,471 over the last three months. Corporate insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Maverick Capital Ltd. purchased a new position in Varonis Systems in the third quarter valued at approximately $926,000. State Street Corp raised its holdings in Varonis Systems by 0.6% in the third quarter. State Street Corp now owns 641,979 shares of the technology company’s stock valued at $38,378,000 after buying an additional 3,617 shares during the period. BBVA USA Bancshares Inc. purchased a new position in Varonis Systems in the third quarter valued at approximately $472,000. Integrated Wealth Concepts LLC purchased a new position in Varonis Systems in the third quarter valued at approximately $223,000. Finally, Kopion Asset Management LLC purchased a new position in Varonis Systems in the fourth quarter valued at approximately $8,928,000. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Varonis Systems Company Profile

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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