Varonis Systems, Inc. (NASDAQ:VRNS) Receives Buy Rating from Jefferies Group LLC
Jefferies Group LLC reiterated their buy rating on shares of Varonis Systems, Inc. (NASDAQ:VRNS) in a research report report published on Friday morning. The brokerage currently has a $45.00 price objective on the technology company’s stock.
Several other research analysts have also recently weighed in on the stock. Barclays PLC boosted their price target on shares of Varonis Systems from $45.00 to $47.00 and gave the company an equal weight rating in a research report on Friday. Imperial Capital boosted their price target on shares of Varonis Systems from $39.00 to $46.00 and gave the company an outperform rating in a research report on Friday. Stifel Nicolaus reissued a buy rating and set a $44.00 price target (up previously from $40.00) on shares of Varonis Systems in a research report on Friday. BidaskClub cut shares of Varonis Systems from a hold rating to a sell rating in a research report on Tuesday. Finally, Royal Bank Of Canada reissued a buy rating and set a $42.00 price target on shares of Varonis Systems in a research report on Thursday, July 20th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company. The company currently has an average rating of Hold and an average price target of $40.82.
Shares of Varonis Systems (NASDAQ:VRNS) traded up 2.66% during midday trading on Friday, hitting $38.55. 477,518 shares of the stock traded hands. The stock’s market cap is $1.05 billion. The company’s 50 day moving average price is $37.49 and its 200-day moving average price is $32.84. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $40.00.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to analysts’ expectations of $47.50 million. Varonis Systems had a negative net margin of 10.46% and a negative return on equity of 23.33%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.12) EPS. On average, equities research analysts expect that Varonis Systems will post $0.01 EPS for the current year.
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In other Varonis Systems news, SVP James O’boyle sold 20,000 shares of the business’s stock in a transaction dated Tuesday, July 11th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the sale, the senior vice president now directly owns 144,189 shares in the company, valued at $5,551,276.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ohad Korkus sold 57,938 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $39.04, for a total transaction of $2,261,899.52. Following the sale, the insider now owns 214,108 shares in the company, valued at $8,358,776.32. The disclosure for this sale can be found here. Insiders sold 378,436 shares of company stock worth $14,253,387 in the last ninety days. 19.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the company. Eagle Asset Management Inc. raised its stake in shares of Varonis Systems by 8.5% in the first quarter. Eagle Asset Management Inc. now owns 251,301 shares of the technology company’s stock worth $7,991,000 after buying an additional 19,710 shares during the period. Teza Capital Management LLC acquired a new stake in shares of Varonis Systems during the first quarter worth about $223,000. UBS Asset Management Americas Inc. acquired a new stake in shares of Varonis Systems during the first quarter worth about $2,934,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of Varonis Systems during the first quarter worth about $286,000. Finally, First Trust Advisors LP acquired a new stake in shares of Varonis Systems during the first quarter worth about $6,936,000. Institutional investors own 63.31% of the company’s stock.
Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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