Varonis Systems Inc. (VRNS) Sets New 1-Year High at $28.81
Varonis Systems Inc. (NASDAQ:VRNS)’s share price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.81 and last traded at $28.62, with a volume of 120,221 shares. The stock had previously closed at $28.19.
A number of research firms have issued reports on VRNS. Imperial Capital lifted their price objective on shares of Varonis Systems from $27.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, August 11th. RBC Capital Markets reaffirmed an “outperform” rating and set a $32.00 price objective (up from $27.00) on shares of Varonis Systems in a report on Thursday, August 11th. JMP Securities lifted their price objective on shares of Varonis Systems from $29.00 to $33.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 10th. Jefferies Group lifted their price objective on shares of Varonis Systems from $26.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, August 10th. Finally, Needham & Company LLC raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a report on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and ten have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $29.00.
The stock’s 50 day moving average price is $25.99 and its 200 day moving average price is $21.92. The stock’s market cap is $752.88 million.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.05. The firm earned $38.60 million during the quarter, compared to the consensus estimate of $36.60 million. Varonis Systems’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same quarter last year, the company posted ($0.18) EPS. On average, equities analysts anticipate that Varonis Systems Inc. will post ($0.34) earnings per share for the current fiscal year.
In other Varonis Systems news, insider Ohad Korkus sold 34,568 shares of the stock in a transaction on Monday, August 22nd. The stock was sold at an average price of $28.30, for a total value of $978,274.40. Following the completion of the transaction, the insider now owns 993,699 shares in the company, valued at $28,121,681.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP James O’boyle sold 8,000 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 195,102 shares of the company’s stock, 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 raised 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 SEC. The fund owned 1,002,199 shares of the company’s stock after buying an additional 418,234 shares during the period. Morgan Stanley owned 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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