Varonis Systems Ltd. (NASDAQ:VRNS) has received an average rating of “Buy” from the sixteen research firms that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, eleven have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $61.50.
A number of equities research analysts have recently commented on the stock. BidaskClub upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Needham & Company LLC lifted their price target on shares of Varonis Systems from $52.00 to $65.00 and gave the stock a “buy” rating in a report on Friday, January 19th. TheStreet upgraded shares of Varonis Systems from a “d+” rating to a “c” rating in a report on Monday, February 12th. Royal Bank of Canada lifted their price target on shares of Varonis Systems to $63.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Finally, ValuEngine upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a report on Monday, April 2nd.
NASDAQ:VRNS traded down $0.60 during mid-day trading on Wednesday, hitting $66.75. 185,664 shares of the company’s stock traded hands, compared to its average volume of 295,949. Varonis Systems has a 1 year low of $30.55 and a 1 year high of $68.25. The company has a market capitalization of $1,859.88, a P/E ratio of -133.70 and a beta of 0.73.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.29 by $0.07. The business had revenue of $73.20 million during the quarter, compared to the consensus estimate of $66.29 million. Varonis Systems had a negative net margin of 6.30% and a negative return on equity of 15.65%. The company’s quarterly revenue was up 34.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.24 earnings per share. sell-side analysts predict that Varonis Systems will post -0.77 EPS for the current year.
In related news, Director Gili Iohan sold 16,370 shares of the business’s stock in a transaction that occurred on Monday, March 26th. The shares were sold at an average price of $60.41, for a total value of $988,911.70. Following the completion of the sale, the director now directly owns 53,149 shares in the company, valued at $3,210,731.09. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP David Bass sold 17,500 shares of Varonis Systems stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $57.43, for a total transaction of $1,005,025.00. Following the transaction, the executive vice president now directly owns 127,250 shares in the company, valued at $7,307,967.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 257,607 shares of company stock valued at $14,774,744. 4.20% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the business. Goldman Sachs Group Inc. lifted its position in shares of Varonis Systems by 97.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 91,672 shares of the technology company’s stock worth $4,450,000 after purchasing an additional 45,307 shares in the last quarter. Deutsche Bank AG increased its stake in shares of Varonis Systems by 33.2% in the fourth quarter. Deutsche Bank AG now owns 358,569 shares of the technology company’s stock worth $17,406,000 after buying an additional 89,442 shares during the last quarter. Schwab Charles Investment Management Inc. increased its stake in shares of Varonis Systems by 35.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 91,095 shares of the technology company’s stock worth $3,817,000 after buying an additional 24,049 shares during the last quarter. University of Notre Dame DU Lac increased its stake in shares of Varonis Systems by 37.5% in the fourth quarter. University of Notre Dame DU Lac now owns 176,318 shares of the technology company’s stock worth $8,560,000 after buying an additional 48,087 shares during the last quarter. Finally, Convergence Investment Partners LLC bought a new stake in shares of Varonis Systems in the fourth quarter worth $1,666,000. 84.81% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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