A number of other research analysts have also issued reports on VRNS. ValuEngine lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. Zacks Investment Research lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Robert W. Baird restated a “buy” rating on shares of Varonis Systems in a research note on Tuesday, October 29th. Barclays restated a “hold” rating and set a $91.00 price target on shares of Varonis Systems in a research note on Wednesday. Finally, Craig Hallum upped their price target on shares of Varonis Systems from $75.00 to $82.00 in a research note on Tuesday, October 29th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Varonis Systems currently has a consensus rating of “Buy” and an average price target of $81.21.
Shares of Varonis Systems stock opened at $85.07 on Friday. Varonis Systems has a 12-month low of $49.50 and a 12-month high of $88.60. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -44.08 and a beta of 0.92. The firm’s 50 day simple moving average is $79.30 and its two-hundred day simple moving average is $70.82.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, October 28th. The technology company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.18. Varonis Systems had a negative net margin of 21.42% and a negative return on equity of 49.47%. The business had revenue of $65.65 million for the quarter, compared to analyst estimates of $61.61 million. During the same quarter in the prior year, the business posted $0.06 EPS. Varonis Systems’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities research analysts anticipate that Varonis Systems will post -2.45 EPS for the current fiscal year.
In other news, CEO Yakov Faitelson sold 65,176 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $83.49, for a total value of $5,441,544.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gili Iohan sold 11,765 shares of the stock in a transaction on 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 completion of the sale, the director now owns 18,131 shares in the company, valued at approximately $1,549,837.88. The disclosure for this sale can be found here. Insiders sold 85,441 shares of company stock worth $7,093,041 in the last quarter. Company insiders own 2.80% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Varonis Systems by 34.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,521 shares of the technology company’s stock valued at $351,000 after buying an additional 1,166 shares during the period. Coronation Fund Managers Ltd. grew its position in Varonis Systems by 30.1% during the fourth quarter. Coronation Fund Managers Ltd. now owns 60,010 shares of the technology company’s stock valued at $4,663,000 after buying an additional 13,873 shares during the period. Kopion Asset Management LLC acquired a new stake in Varonis Systems during the fourth quarter valued at $8,928,000. Carroll Financial Associates Inc. acquired a new stake in Varonis Systems during the fourth quarter valued at $41,000. Finally, Maverick Capital Ltd. acquired a new stake in Varonis Systems during the third quarter valued at $926,000. Institutional investors own 97.12% of the company’s stock.
About Varonis Systems
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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