Varonis Systems Inc. (VRNS) Shares Up 1.8%
Varonis Systems Inc. (NASDAQ:VRNS) shares shot up 1.8% during trading on Friday . The company traded as high as $28.29 and last traded at $28.21, with a volume of 130,118 shares changing hands. The stock had previously closed at $27.71.
A number of brokerages have recently commented on VRNS. Brean Capital reissued a “buy” rating and set a $25.00 price objective on shares of Varonis Systems in a report on Monday, May 2nd. Royal Bank Of Canada increased their target price on Varonis Systems from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. JMP Securities increased their target price on Varonis Systems from $29.00 to $33.00 and gave the company a “market outperform” rating in a research note on Wednesday, August 10th. RBC Capital Markets restated an “outperform” rating and set a $32.00 target price (up previously from $27.00) on shares of Varonis Systems in a research note on Thursday, August 11th. Finally, Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $29.00.
The company has a 50-day moving average of $25.71 and a 200-day moving average of $21.61. The company’s market capitalization is $750.24 million.
Varonis Systems (NASDAQ:VRNS) last released its earnings results on Tuesday, August 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The company earned $38.60 million during the quarter, compared to analyst estimates of $36.60 million. During the same period in the prior year, the firm posted ($0.18) EPS. Varonis Systems’s revenue was up 32.2% compared to the same quarter last year. Analysts forecast that Varonis Systems Inc. will post ($0.34) earnings per share for the current fiscal year.
In other Varonis Systems news, major shareholder Iv L.P. Evergreen sold 73,266 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $27.58, for a total transaction of $2,020,676.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP James O’boyle sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $24.40, for a total value of $195,200.00. Following the transaction, the senior vice president now directly owns 195,102 shares in the company, valued at approximately $4,760,488.80. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Varonis Systems stock. Morgan Stanley boosted its stake in shares of Varonis Systems Inc. (NASDAQ:VRNS) by 71.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,002,199 shares of the company’s stock after buying an additional 418,234 shares during the period. Morgan Stanley owned approximately 3.89% of Varonis Systems worth $18,842,000 at the end of the most recent reporting period.
Varonis Systems, Inc (Varonis) provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees.
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