Varonis Systems, Inc. (NASDAQ:VRNS) was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

VRNS has been the subject of several other reports. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 price target on shares of Varonis Systems in a report on Thursday, July 20th. Barclays PLC reiterated a “hold” rating and set a $45.00 price target on shares of Varonis Systems in a report on Wednesday, July 19th. Needham & Company LLC assumed coverage on Varonis Systems in a report on Monday, May 1st. They set a “buy” rating and a $38.00 price target for the company. Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price target (up from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. Finally, Imperial Capital lifted their price target on Varonis Systems from $35.00 to $39.00 and gave the company an “outperform” rating in a report on Monday, May 8th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $42.60.

Varonis Systems (NASDAQ VRNS) traded down 0.066% during mid-day trading on Wednesday, reaching $37.775. 8,449 shares of the company were exchanged. The stock’s 50-day moving average is $37.70 and its 200-day moving average is $33.37. Varonis Systems has a 12 month low of $24.45 and a 12 month high of $40.00. The company’s market cap is $1.04 billion.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. The business had revenue of $50.20 million during the quarter, compared to analyst estimates of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The firm’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the company earned ($0.12) EPS. Equities analysts expect that Varonis Systems will post $0.09 earnings per share for the current year.

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In related news, CEO Yakov Faitelson sold 915 shares of the firm’s stock in a transaction that occurred on Friday, May 26th. The stock was sold at an average price of $37.00, for a total value of $33,855.00. Following the transaction, the chief executive officer now directly owns 434,489 shares of the company’s stock, valued at approximately $16,076,093. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ohad Korkus sold 57,938 shares of the firm’s stock in a transaction that occurred on Wednesday, July 19th. The shares were sold at an average price of $39.04, for a total value of $2,261,899.52. Following the completion of the transaction, the insider now directly owns 214,108 shares in the company, valued at $8,358,776.32. The disclosure for this sale can be found here. Insiders sold a total of 344,998 shares of company stock worth $13,084,586 over the last three months. 19.50% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Jennison Associates increased its position in shares of Varonis Systems by 32.6% in the third quarter. Jennison Associates now owns 942,968 shares of the technology company’s stock valued at $14,691,000 after buying an additional 232,084 shares in the last quarter. J. Goldman & Company purchased a new stake in Varonis Systems during the third quarter worth about $8,584,000. Brown Advisory Inc. boosted its stake in Varonis Systems by 2.2% in the fourth quarter. Brown Advisory Inc. now owns 57,880 shares of the technology company’s stock worth $1,088,000 after buying an additional 1,263 shares in the last quarter. Morgan Stanley boosted its stake in Varonis Systems by 71.6% in the fourth quarter. Morgan Stanley now owns 1,002,199 shares of the technology company’s stock worth $18,842,000 after buying an additional 418,234 shares in the last quarter. Finally, J. Goldman & Co LP boosted its stake in Varonis Systems by 19.5% in the fourth quarter. J. Goldman & Co LP now owns 658,329 shares of the technology company’s stock worth $12,377,000 after buying an additional 107,359 shares in the last quarter. 64.93% of the stock is currently owned by 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, Data Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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