Brokerages Set Varonis Systems Inc (VRNS) Price Target at $50.86

Varonis Systems Inc (NASDAQ:VRNS) has earned an average recommendation of “Buy” from the twelve research firms that are covering the stock, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $50.86.

A number of analysts have commented on the company. BidaskClub upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research report on Saturday, January 6th. Barclays restated a “neutral” rating on shares of Varonis Systems in a research report on Tuesday, December 19th. Oppenheimer restated a “buy” rating and set a $57.00 target price on shares of Varonis Systems in a research report on Wednesday, December 13th. Finally, Royal Bank of Canada restated a “buy” rating and set a $55.00 target price on shares of Varonis Systems in a research report on Thursday, December 7th.

Shares of Varonis Systems (NASDAQ VRNS) traded down $0.20 during mid-day trading on Monday, hitting $51.95. The company’s stock had a trading volume of 174,200 shares, compared to its average volume of 222,671. Varonis Systems has a 52 week low of $25.20 and a 52 week high of $53.60. The company has a market cap of $1,450.00, a P/E ratio of -89.57 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The company had revenue of $53.60 million during the quarter, compared to the consensus estimate of $50.53 million. During the same quarter last year, the company earned ($0.03) EPS. The company’s quarterly revenue was up 31.1% on a year-over-year basis. sell-side analysts anticipate that Varonis Systems will post -0.53 earnings per share for the current fiscal year.

In other Varonis Systems news, CFO Guy Melamed sold 605 shares of Varonis Systems stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $43.65, for a total value of $26,408.25. Following the completion of the transaction, the chief financial officer now owns 95,491 shares in the company, valued at approximately $4,168,182.15. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yakov Faitelson sold 46,569 shares of Varonis Systems stock in a transaction on Tuesday, November 28th. The shares were sold at an average price of $51.16, for a total value of $2,382,470.04. Following the completion of the transaction, the chief executive officer now owns 211,572 shares of the company’s stock, valued at approximately $10,824,023.52. The disclosure for this sale can be found here. In the last quarter, insiders sold 287,384 shares of company stock valued at $14,505,934. Corporate insiders own 19.50% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VRNS. New York State Common Retirement Fund increased its stake in shares of Varonis Systems by 217.6% in the 2nd quarter. New York State Common Retirement Fund now owns 38,120 shares of the technology company’s stock valued at $1,418,000 after buying an additional 26,119 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Varonis Systems by 31.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,046 shares of the technology company’s stock valued at $2,495,000 after buying an additional 15,899 shares during the period. Jane Street Group LLC acquired a new stake in shares of Varonis Systems in the 3rd quarter valued at $1,267,000. Prudential Financial Inc. increased its stake in shares of Varonis Systems by 11.8% in the 3rd quarter. Prudential Financial Inc. now owns 205,580 shares of the technology company’s stock valued at $8,614,000 after buying an additional 21,780 shares during the period. Finally, Coe Capital Management LLC acquired a new stake in shares of Varonis Systems in the 3rd quarter valued at $890,000. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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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.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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