Varonis Systems Ltd. (VRNS) Receives Average Rating of “Buy” from Analysts

Shares of Varonis Systems Ltd. (NASDAQ:VRNS) have been given an average rating of “Buy” by the sixteen brokerages that are currently covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $63.62.

VRNS has been the subject of several research analyst reports. BidaskClub raised Varonis Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Imperial Capital lifted their price target on Varonis Systems from $63.00 to $68.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 14th. Needham & Company LLC lifted their price objective on Varonis Systems to $80.00 and gave the stock a “buy” rating in a report on Tuesday. They noted that the move was a valuation call. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Finally, Benchmark restated a “buy” rating and set a $69.00 price target (up previously from $60.00) on shares of Varonis Systems in a report on Monday, April 2nd.

Shares of Varonis Systems stock traded up $0.70 on Wednesday, hitting $65.60. The company had a trading volume of 273,708 shares, compared to its average volume of 292,801. The company has a market cap of $1,854.22, a PE ratio of -131.20 and a beta of 0.73. Varonis Systems has a 1 year low of $30.55 and a 1 year high of $68.25.



Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, beating the Zacks’ consensus estimate of $0.29 by $0.07. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The company had revenue of $73.20 million during the quarter, compared to the consensus estimate of $66.29 million. During the same period last year, the business posted $0.24 earnings per share. Varonis Systems’s revenue was up 34.6% on a year-over-year basis. equities analysts expect that Varonis Systems will post -0.77 EPS for the current fiscal year.

In other Varonis Systems news, SVP James O’boyle sold 35,000 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $56.79, for a total value of $1,987,650.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yakov Faitelson sold 106,426 shares of Varonis Systems stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $56.26, for a total transaction of $5,987,526.76. Following the sale, the chief executive officer now owns 246,789 shares of the company’s stock, valued at $13,884,349.14. The disclosure for this sale can be found here. Over the last three months, insiders have sold 257,607 shares of company stock worth $14,774,744. 4.20% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Picton Mahoney Asset Management increased its holdings in Varonis Systems by 177.0% in the fourth quarter. Picton Mahoney Asset Management now owns 246,600 shares of the technology company’s stock valued at $11,973,000 after buying an additional 567,000 shares in the last quarter. BlackRock Inc. increased its stake in shares of Varonis Systems by 25.9% during the fourth quarter. BlackRock Inc. now owns 2,382,680 shares of the technology company’s stock worth $115,680,000 after purchasing an additional 489,675 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Varonis Systems by 99.3% during the fourth quarter. Bank of New York Mellon Corp now owns 732,983 shares of the technology company’s stock worth $35,586,000 after purchasing an additional 365,196 shares in the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in Varonis Systems during the fourth quarter worth about $9,085,000. Finally, OppenheimerFunds Inc. acquired a new position in Varonis Systems during the fourth quarter worth about $6,700,000. Institutional investors own 84.51% of the company’s stock.

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Varonis Systems Company Profile

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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