Varonis Systems, Inc. (NASDAQ:VRNS) had its target price raised by analysts at Barclays PLC from $45.00 to $47.00 in a note issued to investors on Friday, August 4th. The firm currently has an “equal weight” rating on the technology company’s stock. Barclays PLC’s target price indicates a potential upside of 25.00% from the company’s current price.
A number of other brokerages have also recently issued reports on VRNS. Royal Bank Of Canada restated a “buy” rating and set a $42.00 target price on shares of Varonis Systems in a research report on Thursday, July 20th. 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 report on Friday, August 4th. Imperial Capital reissued an “outperform” rating and issued a $46.00 price objective (up previously from $39.00) on shares of Varonis Systems in a research report on Friday, August 4th. BidaskClub lowered shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Zacks Investment Research lowered shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $42.60.
Shares of Varonis Systems (VRNS) opened at 37.60 on Friday. The firm’s market cap is $1.03 billion. The firm has a 50-day moving average of $37.77 and a 200-day moving average of $33.44. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $40.00.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $50.20 million during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.12) earnings per share. On average, equities analysts forecast that Varonis Systems will post $0.09 earnings per share for the current fiscal year.
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In other news, Director Rona Segev-Gal sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were sold at an average price of $36.65, for a total value of $183,250.00. Following the completion of the transaction, the director now directly owns 24,907 shares in the company, valued at $912,841.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ohad Korkus sold 57,938 shares of the company’s stock in a transaction on Wednesday, July 19th. The shares were sold at an average price of $39.04, for a total transaction of $2,261,899.52. Following the completion of the transaction, the insider now owns 214,108 shares of the company’s stock, valued at $8,358,776.32. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 344,998 shares of company stock valued at $13,084,586. 19.50% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of VRNS. Oppenheimer Asset Management Inc. bought a new stake in Varonis Systems during the second quarter valued at about $122,000. Fortaleza Asset Management Inc. bought a new stake in Varonis Systems during the second quarter valued at about $151,000. Legal & General Group Plc boosted its stake in Varonis Systems by 39.6% in the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after buying an additional 1,223 shares in the last quarter. Adams Street Partners LLC bought a new stake in Varonis Systems during the second quarter valued at about $163,000. Finally, Van ECK Associates Corp boosted its stake in Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after buying an additional 296 shares in the last quarter. 64.93% of the stock is currently 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, Data 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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