Morgan Stanley upgraded shares of Varonis Systems (NASDAQ:VRNS) from an equal weight rating to an overweight rating in a research note published on Monday morning, BenzingaRatingsTable reports. The firm currently has $97.00 target price on the technology company’s stock, up from their previous target price of $81.00.
Several other analysts have also commented on the company. Zacks Investment Research lowered Varonis Systems from a buy rating to a hold rating in a report on Tuesday, December 10th. Barclays decreased their price objective on Varonis Systems from $81.00 to $68.00 and set an equal weight rating for the company in a report on Monday, October 7th. Robert W. Baird reiterated a buy rating on shares of Varonis Systems in a report on Tuesday, October 29th. Needham & Company LLC reiterated a buy rating and set a $90.00 price objective on shares of Varonis Systems in a report on Tuesday, December 17th. Finally, Jefferies Financial Group increased their price objective on Varonis Systems from $88.00 to $92.00 and gave the company a buy rating in a report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Varonis Systems currently has an average rating of Buy and a consensus target price of $79.57.
Shares of VRNS opened at $87.25 on Monday. Varonis Systems has a 12 month low of $49.50 and a 12 month high of $88.60. The stock has a fifty day moving average price of $78.05 and a 200-day moving average price of $69.90. The firm has a market cap of $2.65 billion, a PE ratio of -89.03 and a beta of 0.92.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, October 28th. The technology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.18. Varonis Systems had a negative return on equity of 49.47% and a negative net margin of 21.42%. The firm had revenue of $65.65 million during the quarter, compared to analyst estimates of $61.61 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year. Research analysts forecast that Varonis Systems will post -2.45 earnings per share for the current fiscal year.
In other Varonis Systems news, Director Gili Iohan sold 11,765 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $85.48, for a total transaction of $1,005,672.20. Following the sale, the director now directly owns 18,131 shares of the company’s stock, valued at approximately $1,549,837.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP David Bass sold 3,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $75.19, for a total value of $225,570.00. Following the sale, the executive vice president now directly owns 159,500 shares in the company, valued at $11,992,805. The disclosure for this sale can be found here. Insiders sold a total of 85,441 shares of company stock valued at $7,093,041 in the last 90 days. 2.80% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. United Services Automobile Association grew its position in Varonis Systems by 7.4% during the 2nd quarter. United Services Automobile Association now owns 4,555 shares of the technology company’s stock worth $282,000 after purchasing an additional 312 shares during the period. Bank of Montreal Can grew its position in Varonis Systems by 1.1% during the 2nd quarter. Bank of Montreal Can now owns 27,762 shares of the technology company’s stock worth $1,720,000 after purchasing an additional 314 shares during the period. Captrust Financial Advisors grew its position in Varonis Systems by 103.9% during the 2nd quarter. Captrust Financial Advisors now owns 736 shares of the technology company’s stock worth $46,000 after purchasing an additional 375 shares during the period. Atria Investments LLC grew its position in Varonis Systems by 11.2% during the 2nd quarter. Atria Investments LLC now owns 4,857 shares of the technology company’s stock worth $340,000 after purchasing an additional 489 shares during the period. Finally, Valeo Financial Advisors LLC grew its position in Varonis Systems by 292.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 702 shares of the technology company’s stock worth $42,000 after purchasing an additional 523 shares during the period. 96.75% of the stock is currently owned by institutional investors.
Varonis Systems Company Profile
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.
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