Barclays PLC reissued their hold rating on shares of Varonis Systems, Inc. (NASDAQ:VRNS) in a research note issued to investors on Wednesday, July 19th. They currently have a $45.00 price objective on the technology company’s stock.
Several other research firms have also issued reports on VRNS. Zacks Investment Research lowered Varonis Systems from a hold rating to a sell rating in a research report on Wednesday, July 5th. Stifel Nicolaus raised Varonis Systems from a hold rating to a buy rating and increased their target price for the stock from $34.00 to $36.00 in a research report on Thursday, March 23rd. ValuEngine raised Varonis Systems from a sell rating to a hold rating in a research report on Friday, June 2nd. Morgan Stanley raised Varonis Systems from an underweight rating to an equal weight rating and increased their target price for the stock from $24.00 to $35.00 in a research report on Wednesday, June 21st. Finally, Needham & Company LLC increased their target price on Varonis Systems from $38.00 to $43.00 and gave the stock a buy rating in a research report on Monday, May 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $38.91.
Shares of Varonis Systems (NASDAQ:VRNS) traded down 1.07% during trading on Wednesday, hitting $36.90. 19,946 shares of the stock were exchanged. The company’s market cap is $1.00 billion. Varonis Systems has a 12-month low of $23.71 and a 12-month high of $39.30. The firm has a 50 day moving average of $37.35 and a 200-day moving average of $32.64.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.23) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.07. The business had revenue of $40.40 million for the quarter, compared to analyst estimates of $37.45 million. Varonis Systems had a negative return on equity of 23.33% and a negative net margin of 10.46%. The business’s revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS.
In related news, Director Gili Iohan sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $38.00, for a total transaction of $380,000.00. Following the completion of the transaction, the director now owns 52,932 shares of the company’s stock, valued at $2,011,416. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Ohad Korkus sold 61,226 shares of the firm’s stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $32.02, for a total value of $1,960,456.52. Following the transaction, the chief technology officer now directly owns 676,798 shares of the company’s stock, valued at approximately $21,671,071.96. The disclosure for this sale can be found here. Insiders have sold 695,431 shares of company stock worth $24,402,868 over the last three months. Corporate insiders own 19.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the stock. American International Group Inc. raised its position in Varonis Systems by 7.1% in the first quarter. American International Group Inc. now owns 6,588 shares of the technology company’s stock worth $209,000 after buying an additional 437 shares during the period. Teza Capital Management LLC bought a new position in Varonis Systems during the first quarter worth $223,000. Oxford Asset Management bought a new position in Varonis Systems during the first quarter worth $263,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Varonis Systems during the first quarter worth $286,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Varonis Systems during the first quarter worth $315,000. Institutional investors and hedge funds own 63.31% of the company’s stock.
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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