Varonis Systems (NASDAQ:VRNS) had its target price upped by Oppenheimer from $71.00 to $80.00 in a research note issued to investors on Wednesday morning. They currently have an outperform rating on the technology company’s stock.
VRNS has been the topic of a number of other research reports. Zacks Investment Research raised shares of Varonis Systems from a hold rating to a buy rating and set a $61.00 price target on the stock in a research report on Tuesday, January 23rd. Stifel Nicolaus lifted their price target on shares of Varonis Systems from $60.00 to $70.00 and gave the company a buy rating in a research report on Wednesday, April 11th. Stephens reissued a buy rating and issued a $60.00 price target on shares of Varonis Systems in a research report on Tuesday, February 13th. BidaskClub lowered shares of Varonis Systems from a buy rating to a hold rating in a research report on Thursday, January 25th. Finally, DA Davidson began coverage on shares of Varonis Systems in a research report on Tuesday, March 27th. They issued a buy rating and a $73.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, eleven have given a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $71.07.
Varonis Systems opened at $76.15 on Wednesday, according to MarketBeat.com. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of -152.30 and a beta of 0.72. Varonis Systems has a 12-month low of $33.60 and a 12-month high of $77.10.
Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, April 30th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.09. Varonis Systems had a negative net margin of 7.75% and a negative return on equity of 17.00%. The firm had revenue of $53.53 million during the quarter, compared to analysts’ expectations of $49.71 million. During the same period in the previous year, the company earned ($0.23) earnings per share. The company’s revenue was up 35.2% compared to the same quarter last year. equities research analysts predict that Varonis Systems will post -1.03 EPS for the current fiscal year.
In related news, CFO Guy Melamed sold 15,510 shares of the business’s stock in a transaction on Friday, March 2nd. The shares were sold at an average price of $56.13, for a total transaction of $870,576.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Gili Iohan sold 26,108 shares of the business’s stock in a transaction on Thursday, May 24th. The stock was sold at an average price of $76.01, for a total transaction of $1,984,469.08. Following the transaction, the director now directly owns 62,677 shares in the company, valued at approximately $4,764,078.77. The disclosure for this sale can be found here. Insiders have sold 325,548 shares of company stock worth $19,799,165 in the last ninety days. 4.20% of the stock is currently owned by insiders.
Hedge funds have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new position in Varonis Systems during the first quarter worth $159,000. ETRADE Capital Management LLC acquired a new stake in Varonis Systems during the fourth quarter worth $209,000. Quantitative Systematic Strategies LLC acquired a new stake in Varonis Systems during the first quarter worth $220,000. Teacher Retirement System of Texas acquired a new stake in Varonis Systems during the fourth quarter worth $254,000. Finally, Invictus RG acquired a new stake in Varonis Systems during the fourth quarter worth $271,000. 83.14% of the stock is currently owned by institutional investors and hedge funds.
About Varonis Systems
Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.
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