Varonis Systems (NASDAQ:VRNS)‘s stock had its “buy” rating reissued by equities research analysts at Royal Bank Of Canada in a research note issued to investors on Thursday. They currently have a $55.00 price objective on the technology company’s stock. Royal Bank Of Canada’s price objective points to a potential upside of 13.87% from the stock’s previous close.
Other research analysts have also issued reports about the company. Needham & Company LLC lifted their target price on Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 14th. Zacks Investment Research upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Thursday, August 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $48.00 target price (up from $44.00) on shares of Varonis Systems in a report on Monday, September 11th. Jefferies Group reaffirmed a “buy” rating and set a $45.00 price target on shares of Varonis Systems in a report on Thursday, September 7th. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Varonis Systems in a report on Friday, December 1st. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $48.82.
Varonis Systems (NASDAQ:VRNS) traded down $1.25 on Thursday, hitting $48.30. The stock had a trading volume of 721,000 shares, compared to its average volume of 298,842. Varonis Systems has a 1-year low of $24.75 and a 1-year high of $53.60.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The business had revenue of $53.60 million during the quarter, compared to analyst estimates of $50.53 million. During the same period last year, the business posted ($0.03) earnings per share. The company’s quarterly revenue was up 31.1% on a year-over-year basis. equities research analysts predict that Varonis Systems will post -0.53 EPS for the current year.
In related news, insider Ohad Korkus sold 48,024 shares of the business’s stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $50.26, for a total value of $2,413,686.24. Following the transaction, the insider now owns 31,872 shares in the company, valued at approximately $1,601,886.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yakov Faitelson sold 63,807 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $50.35, for a total value of $3,212,682.45. Following the completion of the transaction, the chief executive officer now owns 157,651 shares in the company, valued at approximately $7,937,727.85. The disclosure for this sale can be found here. Insiders have sold 694,390 shares of company stock worth $31,285,353 in the last quarter. Insiders own 19.50% of the company’s stock.
A number of hedge funds have recently modified their holdings of VRNS. Oppenheimer Asset Management Inc. acquired a new position in Varonis Systems in the 2nd quarter valued at about $122,000. Fortaleza Asset Management Inc. acquired a new position in Varonis Systems in the 2nd quarter valued at about $151,000. Legal & General Group Plc increased its position in Varonis Systems by 39.6% during the 2nd quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,223 shares during the period. Adams Street Partners LLC acquired a new position in Varonis Systems during the 2nd quarter worth approximately $163,000. Finally, Van ECK Associates Corp increased its position in Varonis Systems by 5.9% during the 2nd quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 84.46% of the company’s stock.
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About Varonis Systems
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit 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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