Varonis Systems (NASDAQ:VRNS) had its price target upped by Stifel Nicolaus from $75.00 to $85.00 in a research report report published on Tuesday. They currently have a buy rating on the technology company’s stock.
VRNS has been the topic of several other research reports. Needham & Company LLC boosted their price target on shares of Varonis Systems to $80.00 and gave the stock a buy rating in a research note on Tuesday, April 24th. They noted that the move was a valuation call. BidaskClub upgraded shares of Varonis Systems from a buy rating to a strong-buy rating in a research note on Friday, March 23rd. Zacks Investment Research upgraded shares of Varonis Systems from a sell rating to a buy rating and set a $74.00 price target on the stock in a research note on Friday, April 20th. Benchmark reiterated a buy rating and issued a $69.00 price target (up previously from $60.00) on shares of Varonis Systems in a research note on Monday, April 2nd. Finally, Imperial Capital boosted their price target on shares of Varonis Systems from $68.00 to $77.00 and gave the stock an outperform rating in a research note on Tuesday, May 1st. Three equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Varonis Systems presently has an average rating of Buy and an average target price of $72.50.
Shares of VRNS stock opened at $75.80 on Tuesday. The firm has a market capitalization of $2.18 billion, a price-to-earnings ratio of -151.60 and a beta of 0.78. Varonis Systems has a 52 week low of $35.45 and a 52 week high of $83.10.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, April 30th. The technology company reported ($0.22) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.09. The business had revenue of $53.53 million for the quarter, compared to analysts’ expectations of $49.71 million. Varonis Systems had a negative net margin of 7.75% and a negative return on equity of 17.00%. The business’s quarterly revenue was up 35.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.23) EPS. equities analysts forecast that Varonis Systems will post -1.03 earnings per share for the current year.
In other news, CEO Yakov Faitelson sold 176,950 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $77.82, for a total value of $13,770,249.00. Following the sale, the chief executive officer now directly owns 302,789 shares in the company, valued at approximately $23,563,039.98. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gili Iohan sold 17,931 shares of the business’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $81.69, for a total transaction of $1,464,783.39. Following the completion of the sale, the director now owns 15,429 shares in the company, valued at $1,260,395.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 344,916 shares of company stock worth $26,683,132. Insiders own 4.20% of the company’s stock.
A number of large investors have recently modified their holdings of VRNS. SG Americas Securities LLC bought a new position in Varonis Systems during the 1st quarter valued at about $159,000. ETRADE Capital Management LLC bought a new position in Varonis Systems during the 4th quarter valued at about $209,000. Quantitative Systematic Strategies LLC bought a new position in Varonis Systems during the 1st quarter valued at about $220,000. Teacher Retirement System of Texas bought a new position in Varonis Systems during the 4th quarter valued at about $254,000. Finally, Invictus RG bought a new position in Varonis Systems during the 4th quarter valued at about $271,000. Institutional investors own 83.19% of the company’s stock.
Varonis Systems Company Profile
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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