Varonis Systems Inc. (VRNS) Rating Lowered to Hold at Zacks Investment Research
Varonis Systems Inc. (NASDAQ:VRNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “
VRNS has been the topic of several other reports. Imperial Capital restated an “outperform” rating and set a $27.00 price objective on shares of Varonis Systems in a research note on Monday, July 25th. Brean Capital restated a “buy” rating on shares of Varonis Systems in a research note on Thursday, September 8th. Jefferies Group restated a “buy” rating on shares of Varonis Systems in a research note on Tuesday, July 5th. Barclays PLC raised their price objective on Varonis Systems from $20.00 to $27.00 and gave the company an “equal weight” rating in a research note on Friday, July 15th. Finally, RBC Capital Markets restated an “outperform” rating and set a $32.00 price objective (up from $27.00) on shares of Varonis Systems in a research note on Thursday, August 11th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Varonis Systems has an average rating of “Buy” and an average target price of $31.00.
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Shares of Varonis Systems (NASDAQ:VRNS) traded down 1.37% during trading on Wednesday, reaching $28.72. 19,342 shares of the company traded hands. The stock’s market capitalization is $757.89 million. Varonis Systems has a 12 month low of $13.25 and a 12 month high of $30.90. The company has a 50-day moving average of $29.55 and a 200-day moving average of $24.82.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, August 9th. The company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.05. Varonis Systems had a negative return on equity of 24.20% and a negative net margin of 13.27%. The business had revenue of $38.60 million for the quarter, compared to analysts’ expectations of $36.60 million. During the same period last year, the business earned ($0.18) EPS. The business’s revenue was up 32.2% on a year-over-year basis. Analysts forecast that Varonis Systems will post ($0.34) earnings per share for the current fiscal year.
In other Varonis Systems news, major shareholder Pitango Venture Capital Princi sold 6,793 shares of Varonis Systems stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $30.45, for a total transaction of $206,846.85. Following the completion of the transaction, the insider now owns 3,078,341 shares of the company’s stock, valued at approximately $93,735,483.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Gili Iohan sold 5,000 shares of Varonis Systems stock in a transaction dated Thursday, July 28th. The shares were sold at an average price of $26.00, for a total value of $130,000.00. Following the transaction, the chief financial officer now directly owns 56,090 shares of the company’s stock, valued at approximately $1,458,340. The disclosure for this sale can be found here. 31.40% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRNS. Jennison Associates LLC raised its position in Varonis Systems by 6.1% in the second quarter. Jennison Associates LLC now owns 1,667,302 shares of the company’s stock worth $40,049,000 after buying an additional 95,439 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in Varonis Systems during the second quarter worth $1,023,000. Swiss National Bank raised its position in Varonis Systems by 24.8% in the second quarter. Swiss National Bank now owns 21,118 shares of the company’s stock worth $507,000 after buying an additional 4,200 shares during the last quarter. California State Teachers Retirement System raised its position in Varonis Systems by 16.6% in the second quarter. California State Teachers Retirement System now owns 22,434 shares of the company’s stock worth $539,000 after buying an additional 3,196 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Varonis Systems by 2.3% in the second quarter. Bank of New York Mellon Corp now owns 52,692 shares of the company’s stock worth $1,265,000 after buying an additional 1,164 shares during the last quarter. 41.00% of the stock is owned by institutional investors and hedge funds.
Varonis Systems Company Profile
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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