BidaskClub upgraded shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a buy rating in a research report released on Saturday morning.
VRNS has been the subject of several other reports. Jefferies Financial Group reaffirmed a buy rating and set a $92.00 price objective on shares of Varonis Systems in a research note on Friday, July 20th. Barclays lowered their price objective on shares of Varonis Systems from $79.00 to $74.00 and set an equal weight rating for the company in a research note on Tuesday, July 31st. Royal Bank of Canada reaffirmed an outperform rating and set a $85.00 price objective on shares of Varonis Systems in a research note on Monday, July 30th. Zacks Investment Research raised shares of Varonis Systems from a sell rating to a buy rating and set a $74.00 price objective for the company in a research note on Friday, April 20th. Finally, Needham & Company LLC upped their price objective on shares of Varonis Systems to $90.00 and gave the company a buy rating in a research note on Tuesday, July 17th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $73.87.
Shares of Varonis Systems traded up $0.40, hitting $68.70, during midday trading on Friday, Marketbeat Ratings reports. 467,880 shares of the stock traded hands, compared to its average volume of 619,136. Varonis Systems has a one year low of $35.60 and a one year high of $83.10.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, July 30th. The technology company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The firm had revenue of $62.19 million for the quarter, compared to the consensus estimate of $62.20 million. Varonis Systems had a negative net margin of 10.52% and a negative return on equity of 23.77%. The business’s revenue was up 25.8% on a year-over-year basis. During the same period last year, the company posted ($0.01) earnings per share. equities analysts anticipate that Varonis Systems will post -0.93 earnings per share for the current year.
In other Varonis Systems news, Director Gili Iohan sold 17,931 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $81.69, for a total transaction of $1,464,783.39. Following the completion of the transaction, the director now owns 15,429 shares of the company’s stock, valued at $1,260,395.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Thomas F. Mendoza bought 1,688 shares of the firm’s stock in a transaction on Thursday, August 2nd. The shares were acquired at an average cost of $59.58 per share, with a total value of $100,571.04. Following the purchase, the director now directly owns 22,511 shares of the company’s stock, valued at approximately $1,341,205.38. The disclosure for this purchase can be found here. Over the last three months, insiders sold 344,083 shares of company stock valued at $26,629,620. 4.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Federated Investors Inc. PA grew its holdings in shares of Varonis Systems by 3.2% during the second quarter. Federated Investors Inc. PA now owns 29,507 shares of the technology company’s stock valued at $2,198,000 after buying an additional 922 shares during the last quarter. FMR LLC grew its holdings in shares of Varonis Systems by 23.3% during the second quarter. FMR LLC now owns 889,319 shares of the technology company’s stock valued at $66,255,000 after buying an additional 167,869 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Varonis Systems by 2.3% during the second quarter. Great West Life Assurance Co. Can now owns 54,871 shares of the technology company’s stock valued at $4,099,000 after buying an additional 1,247 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of Varonis Systems by 8.8% during the second quarter. Legal & General Group Plc now owns 134,646 shares of the technology company’s stock valued at $10,031,000 after buying an additional 10,881 shares during the last quarter. Finally, Chicago Equity Partners LLC purchased a new stake in shares of Varonis Systems during the second quarter valued at approximately $4,402,000. 83.71% of the stock is owned by institutional investors and hedge funds.
About Varonis Systems
Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.
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