Varonis Systems Inc (NASDAQ:VRNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage presently has a $42.00 price target on the technology company’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 17.15% from the company’s previous close.
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. “
Several other research firms have also weighed in on VRNS. Royal Bank Of Canada restated a “buy” rating and set a $42.00 price target on shares of Varonis Systems in a research report on Thursday, July 20th. Barclays PLC restated a “hold” rating and set a $45.00 price target on shares of Varonis Systems in a research report on Wednesday, July 19th. Jefferies Group LLC restated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Varonis Systems in a research report on Friday, August 4th. Stifel Nicolaus restated a “buy” rating and set a $44.00 price target (up from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th. Finally, Imperial Capital restated an “outperform” rating and set a $46.00 price target (up from $39.00) on shares of Varonis Systems in a research report on Friday, August 4th. One analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $42.60.
Varonis Systems (NASDAQ:VRNS) opened at 35.85 on Thursday. The firm’s 50 day moving average price is $37.69 and its 200-day moving average price is $33.21. The company’s market capitalization is $986.02 million. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $40.00.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to analyst estimates of $47.50 million. Varonis Systems had a negative return on equity of 25.01% and a negative net margin of 10.04%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period last year, the company earned ($0.12) EPS. On average, equities analysts anticipate that Varonis Systems will post $0.09 earnings per share for the current fiscal year.
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In other Varonis Systems news, CEO Yakov Faitelson sold 915 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $37.00, for a total value of $33,855.00. Following the sale, the chief executive officer now directly owns 434,489 shares of the company’s stock, valued at $16,076,093. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rona Segev-Gal sold 5,000 shares of the business’s stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $36.65, for a total value of $183,250.00. Following the completion of the sale, the director now directly owns 24,907 shares in the company, valued at $912,841.55. The disclosure for this sale can be found here. Insiders have sold 344,998 shares of company stock worth $13,084,586 over the last 90 days. 19.50% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the company. Credit Suisse AG increased its stake in Varonis Systems by 109.5% in the first quarter. Credit Suisse AG now owns 290,948 shares of the technology company’s stock valued at $9,252,000 after buying an additional 152,048 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Varonis Systems during the first quarter valued at approximately $286,000. Oxford Asset Management bought a new stake in Varonis Systems during the first quarter valued at approximately $263,000. Penserra Capital Management LLC increased its stake in Varonis Systems by 14,598.8% in the first quarter. Penserra Capital Management LLC now owns 559,142 shares of the technology company’s stock valued at $17,780,000 after buying an additional 555,338 shares during the period. Finally, Edmond DE Rothschild Holding S.A. bought a new stake in Varonis Systems during the first quarter valued at approximately $1,526,000. 64.93% of the stock is currently owned by institutional investors and hedge funds.
About Varonis Systems
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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