According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “
Other equities research analysts have also issued research reports about the stock. Jefferies Group reaffirmed a buy rating on shares of Varonis Systems in a research note on Tuesday, July 5th. Summit Redstone reaffirmed a buy rating and set a $30.00 target price on shares of Varonis Systems in a research note on Thursday, June 30th. Brean Capital reaffirmed a buy rating and set a $35.00 target price on shares of Varonis Systems in a research note on Saturday, June 25th. Needham & Company LLC raised shares of Varonis Systems from a hold rating to a buy rating and set a $34.00 target price on the stock in a research note on Wednesday, August 10th. Finally, Barclays PLC lifted their target price on shares of Varonis Systems from $20.00 to $27.00 and gave the company an equal weight rating in a research note on Friday, July 15th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Varonis Systems has an average rating of Buy and a consensus price target of $31.00.
Shares of Varonis Systems (NASDAQ:VRNS) opened at 28.89 on Wednesday. The firm has a 50-day moving average of $29.59 and a 200 day moving average of $24.95. Varonis Systems has a 1-year low of $13.25 and a 1-year high of $30.90. The stock’s market cap is $762.38 million.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Tuesday, August 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The business had revenue of $38.60 million for the quarter, compared to analyst estimates of $36.60 million. Varonis Systems had a negative net margin of 13.27% and a negative return on equity of 24.20%. The company’s revenue was up 32.2% on a year-over-year basis. During the same quarter last year, the firm earned ($0.18) EPS. Equities research analysts forecast that Varonis Systems will post ($0.34) earnings per share for the current year.
In related news, CFO Gili Iohan sold 5,000 shares of the business’s stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $26.00, for a total transaction of $130,000.00. Following the sale, the chief financial officer now owns 56,090 shares of the company’s stock, valued at $1,458,340. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ohad Korkus sold 175,631 shares of the business’s stock in a transaction dated Wednesday, August 10th. The stock was sold at an average price of $27.14, for a total transaction of $4,766,625.34. Following the sale, the insider now directly owns 1,186,698 shares in the company, valued at approximately $32,206,983.72. The disclosure for this sale can be found here. Corporate insiders own 31.40% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Eagle Asset Management Inc. acquired a new stake in Varonis Systems during the third quarter valued at approximately $6,935,000. Algert Global LLC acquired a new stake in Varonis Systems during the third quarter valued at approximately $290,000. Schwab Charles Investment Management Inc. raised its stake in Varonis Systems by 1.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 35,358 shares of the company’s stock valued at $850,000 after buying an additional 630 shares during the last quarter. American Century Companies Inc. acquired a new stake in Varonis Systems during the second quarter valued at approximately $682,000. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in Varonis Systems during the second quarter valued at approximately $178,000. 41.00% of the stock is currently owned by institutional investors and hedge funds.
Varonis Systems Company Profile
Varonis Systems, Inc (Varonis) provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees.
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