Varonis Systems (NASDAQ:VRNS) had its target price lifted by stock analysts at Barclays from $54.00 to $58.00 in a note issued to investors on Tuesday. The firm presently has an “equal weight” rating on the technology company’s stock. Barclays’ target price indicates a potential upside of 11.65% from the stock’s current price.
A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada increased their price objective on shares of Varonis Systems to $63.00 and gave the company an “outperform” rating in a research note on Tuesday. Stifel Nicolaus increased their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, February 7th. Finally, Needham & Company LLC increased their price objective on shares of Varonis Systems from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.92.
Varonis Systems (NASDAQ:VRNS) opened at $51.95 on Tuesday. Varonis Systems has a 12 month low of $26.35 and a 12 month high of $55.85. The firm has a market cap of $1,510.00, a price-to-earnings ratio of -98.02 and a beta of 0.89.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The business had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $66.29 million. Varonis Systems had a negative net margin of 6.30% and a negative return on equity of 16.53%. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. research analysts predict that Varonis Systems will post -0.42 EPS for the current year.
In other Varonis Systems news, CEO Yakov Faitelson sold 46,569 shares of the firm’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $51.16, for a total transaction of $2,382,470.04. Following the sale, the chief executive officer now directly owns 211,572 shares of the company’s stock, valued at approximately $10,824,023.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 897 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total transaction of $43,908.15. Following the sale, the chief financial officer now directly owns 95,408 shares in the company, valued at $4,670,221.60. The disclosure for this sale can be found here. Insiders have sold a total of 223,754 shares of company stock worth $11,352,516 over the last ninety days. 19.50% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in the business. Crestline Management LP acquired a new stake in shares of Varonis Systems during the 4th quarter worth about $752,000. Millennium Management LLC boosted its stake in shares of Varonis Systems by 6.4% during the 4th quarter. Millennium Management LLC now owns 827,424 shares of the technology company’s stock worth $40,171,000 after purchasing an additional 49,532 shares during the last quarter. Teachers Advisors LLC boosted its stake in shares of Varonis Systems by 3.0% during the 4th quarter. Teachers Advisors LLC now owns 35,037 shares of the technology company’s stock worth $1,701,000 after purchasing an additional 1,029 shares during the last quarter. Two Sigma Advisers LP boosted its stake in shares of Varonis Systems by 11.8% during the 4th quarter. Two Sigma Advisers LP now owns 382,273 shares of the technology company’s stock worth $18,559,000 after purchasing an additional 40,500 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Varonis Systems by 97.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 91,672 shares of the technology company’s stock worth $4,450,000 after acquiring an additional 45,307 shares during the period. 84.91% of the stock is currently owned by institutional investors.
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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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