Jefferies Group LLC Increases Varonis Systems, Inc. (VRNS) Price Target to $55.00
Varonis Systems, Inc. (NASDAQ:VRNS) had its price objective hoisted by Jefferies Group LLC from $52.00 to $55.00 in a report issued on Friday. They currently have a buy rating on the technology company’s stock.
Other analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $44.00 price target (up previously from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. BidaskClub upgraded shares of Varonis Systems from a sell rating to a hold rating in a report on Wednesday, August 16th. Needham & Company LLC lifted their price target on shares of Varonis Systems from $43.00 to $45.00 and gave the company a buy rating in a report on Monday, August 14th. Barclays PLC lifted their price target on shares of Varonis Systems from $45.00 to $47.00 and gave the company an equal weight rating in a report on Friday, August 4th. Finally, Zacks Investment Research upgraded shares of Varonis Systems from a hold rating to a buy rating and set a $42.00 price target on the stock in a report on Thursday, August 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has an average rating of Buy and a consensus target price of $44.90.
Shares of Varonis Systems (VRNS) opened at $47.80 on Friday. Varonis Systems has a fifty-two week low of $24.75 and a fifty-two week high of $51.70.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. The business had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 19.29%. The firm’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.03) earnings per share. equities analysts forecast that Varonis Systems will post -0.58 earnings per share for the current fiscal year.
In other news, CEO Yakov Faitelson sold 50,000 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $44.57, for a total transaction of $2,228,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Guy Melamed sold 1,150 shares of the business’s stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $38.35, for a total transaction of $44,102.50. Following the sale, the chief financial officer now owns 96,295 shares in the company, valued at approximately $3,692,913.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 465,013 shares of company stock worth $19,116,878. Company insiders own 19.50% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of VRNS. Russell Investments Group Ltd. raised its position in shares of Varonis Systems by 355.9% in the 2nd quarter. Russell Investments Group Ltd. now owns 633,852 shares of the technology company’s stock worth $23,579,000 after purchasing an additional 494,824 shares during the last quarter. ETF Managers Group LLC purchased a new position in shares of Varonis Systems in the 2nd quarter worth about $18,092,000. Renaissance Technologies LLC raised its position in shares of Varonis Systems by 4,112.1% in the 2nd quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock worth $16,766,000 after purchasing an additional 440,000 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in shares of Varonis Systems by 316.7% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 384,434 shares of the technology company’s stock worth $14,301,000 after purchasing an additional 292,178 shares during the last quarter. Finally, Castleark Management LLC purchased a new position in shares of Varonis Systems in the 2nd quarter worth about $7,861,000. 81.96% of the stock is owned by hedge funds and other institutional investors.
About Varonis Systems
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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