Varonis Systems Inc. (VRNS) Hits New 1-Year High at $30.25
Varonis Systems Inc. (NASDAQ:VRNS) hit a new 52-week high during trading on Monday . The stock traded as high as $30.25 and last traded at $30.21, with a volume of 182,400 shares traded. The stock had previously closed at $29.74.
VRNS has been the topic of several research analyst reports. Zacks Investment Research raised Varonis Systems from a “hold” rating to a “buy” rating and set a $23.00 price target on the stock in a research note on Tuesday, May 10th. Imperial Capital boosted their price target on Varonis Systems from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Monday, May 16th. Brean Capital reissued a “buy” rating on shares of Varonis Systems in a research note on Friday, June 10th. Summit Redstone reissued a “buy” rating and set a $30.00 price target on shares of Varonis Systems in a research note on Thursday, June 30th. Finally, Jefferies Group reissued a “buy” rating on shares of Varonis Systems in a research note on Tuesday, July 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. Varonis Systems currently has an average rating of “Buy” and a consensus price target of $29.00.
The firm’s 50-day moving average is $26.99 and its 200 day moving average is $22.60. The firm’s market capitalization is $797.21 million.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, August 9th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.05. The business had revenue of $38.60 million for the quarter, compared to the consensus estimate of $36.60 million. The firm’s revenue for the quarter was up 32.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.18) EPS. Analysts anticipate that Varonis Systems Inc. will post ($0.34) earnings per share for the current fiscal year.
In other news, insider Ohad Korkus sold 175,631 shares of the firm’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $27.14, for a total transaction of $4,766,625.34. Following the transaction, the insider now owns 1,186,698 shares in the company, valued at approximately $32,206,983.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James O’boyle sold 8,000 shares of the firm’s stock in a transaction on Thursday, August 25th. The shares were sold at an average price of $28.90, for a total transaction of $231,200.00. Following the transaction, the senior vice president now owns 179,102 shares in the company, valued at approximately $5,176,047.80. The disclosure for this sale can be found here.
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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