Imperial Capital Reaffirms Outperform Rating for Varonis Systems, Inc. (VRNS)
Varonis Systems, Inc. (NASDAQ:VRNS)‘s stock had its “outperform” rating reissued by equities research analysts at Imperial Capital in a research note issued on Friday, MarketBeat Ratings reports. They presently have a $46.00 price target on the technology company’s stock, up from their prior price target of $39.00. Imperial Capital’s target price suggests a potential upside of 23.32% from the stock’s previous close.
VRNS has been the topic of a number of other research reports. Zacks Investment Research downgraded shares of Varonis Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $42.00 price target on shares of Varonis Systems in a research note on Thursday, July 20th. Morgan Stanley raised shares of Varonis Systems from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $24.00 to $35.00 in a research note on Wednesday, June 21st. Needham & Company LLC upped their price target on shares of Varonis Systems from $38.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, May 15th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $45.00 price target on shares of Varonis Systems in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.82.
Varonis Systems (VRNS) traded down 1.88% during trading on Friday, hitting $36.60. 96,600 shares of the company traded hands. The stock’s market capitalization is $996.11 million. Varonis Systems has a 52 week low of $24.45 and a 52 week high of $40.00. The company’s 50 day moving average is $37.64 and its 200-day moving average is $32.95.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. Varonis Systems’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.12) earnings per share. Analysts predict that Varonis Systems will post $0.01 earnings per share for the current year.
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In other Varonis Systems news, insider Ohad Korkus sold 56,380 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $37.05, for a total transaction of $2,088,879.00. Following the transaction, the insider now owns 362,750 shares in the company, valued at $13,439,887.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James O’boyle sold 20,000 shares of the business’s stock in a transaction on Tuesday, July 11th. The shares were sold at an average price of $38.50, for a total transaction of $770,000.00. Following the transaction, the senior vice president now owns 144,189 shares in the company, valued at approximately $5,551,276.50. The disclosure for this sale can be found here. Insiders have sold 344,998 shares of company stock worth $13,084,586 in the last quarter. Company insiders own 19.50% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new position in Varonis Systems during the second quarter worth approximately $122,000. Fortaleza Asset Management Inc. bought a new position in Varonis Systems during the second quarter worth approximately $151,000. Legal & General Group Plc boosted its position in Varonis Systems by 39.6% in the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after buying an additional 1,223 shares during the last quarter. Adams Street Partners LLC bought a new position in Varonis Systems during the second quarter worth approximately $163,000. Finally, American International Group Inc. boosted its position in Varonis Systems by 7.1% in the first quarter. American International Group Inc. now owns 6,588 shares of the technology company’s stock worth $209,000 after buying an additional 437 shares during the last quarter. Hedge funds and other institutional investors own 63.89% of the company’s stock.
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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