Varonis Systems’ (VRNS) Buy Rating Reiterated at Oppenheimer

Varonis Systems (NASDAQ:VRNS)‘s stock had its “buy” rating reaffirmed by research analysts at Oppenheimer in a research note issued to investors on Wednesday. They presently have a $57.00 price objective on the technology company’s stock. Oppenheimer’s price target would suggest a potential upside of 18.13% from the company’s current price.

Several other equities analysts have also weighed in on the stock. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 target price on shares of Varonis Systems in a report on Thursday, December 7th. Benchmark reiterated a “buy” rating and issued a $60.00 target price on shares of Varonis Systems in a report on Friday, December 1st. Needham & Company LLC reiterated a “buy” rating on shares of Varonis Systems in a report on Friday, November 3rd. Jefferies Group boosted their target price on shares of Varonis Systems from $52.00 to $55.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Thursday, November 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $48.82.

Varonis Systems (VRNS) traded up $0.55 during trading hours on Wednesday, reaching $48.25. 340,700 shares of the company’s stock traded hands, compared to its average volume of 299,889. Varonis Systems has a 12 month low of $24.75 and a 12 month high of $53.60.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. The company had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. Varonis Systems’s revenue was up 31.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.03) EPS. equities research analysts predict that Varonis Systems will post -0.53 earnings per share for the current fiscal year.

In other news, CEO Yakov Faitelson sold 70,842 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $40.96, for a total value of $2,901,688.32. Following the transaction, the chief executive officer now directly owns 334,908 shares in the company, valued at approximately $13,717,831.68. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Ohad Korkus sold 21,990 shares of the company’s stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $40.01, for a total transaction of $879,819.90. Following the completion of the transaction, the insider now owns 192,618 shares in the company, valued at $7,706,646.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 694,390 shares of company stock worth $31,285,353. Company insiders own 19.50% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Varonis Systems by 11.0% during the 2nd quarter. Vanguard Group Inc. now owns 826,449 shares of the technology company’s stock worth $30,744,000 after buying an additional 82,109 shares in the last quarter. ETF Managers Group LLC acquired a new stake in Varonis Systems during the 2nd quarter worth approximately $18,092,000. Renaissance Technologies LLC lifted its holdings in Varonis Systems by 4,112.1% during the 2nd quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock worth $16,766,000 after buying an additional 440,000 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Varonis Systems by 316.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 384,434 shares of the technology company’s stock worth $14,301,000 after buying an additional 292,178 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Varonis Systems by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 367,787 shares of the technology company’s stock worth $15,412,000 after buying an additional 14,829 shares in the last quarter. 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.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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