Varonis Systems, Inc. (NASDAQ:VRNS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

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. “

A number of other research analysts also recently issued reports on the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 price target (up from $44.00) on shares of Varonis Systems in a report on Monday, September 11th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $44.00 price target on shares of Varonis Systems in a report on Monday, September 11th. Jefferies Group LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of Varonis Systems in a report on Thursday, September 7th. BidaskClub raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 16th. Finally, Needham & Company LLC upped their price target on Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 14th. Five analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $43.20.

Shares of Varonis Systems (NASDAQ VRNS) opened at 43.25 on Thursday. The stock’s 50 day moving average price is $39.90 and its 200 day moving average price is $36.23. The stock’s market capitalization is $1.19 billion. Varonis Systems has a 12 month low of $24.45 and a 12 month high of $43.51.

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 analysts’ consensus estimates of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.12) earnings per share. Analysts expect that Varonis Systems will post $0.09 EPS for the current year.

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In other Varonis Systems news, insider Ohad Korkus sold 98,331 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $40.68, for a total value of $4,000,105.08. Following the completion of the sale, the insider now owns 139,108 shares in the company, valued at $5,658,913.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Guy Melamed sold 8,491 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $42.50, for a total value of $360,867.50. Following the completion of the sale, the chief financial officer now owns 95,846 shares of the company’s stock, valued at approximately $4,073,455. The disclosure for this sale can be found here. In the last quarter, insiders have sold 609,977 shares of company stock valued at $24,359,243. 19.50% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Van ECK Associates Corp increased its position in Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after buying an additional 296 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Varonis Systems by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 31,268 shares of the technology company’s stock worth $994,000 after buying an additional 373 shares in the last quarter. NorthCoast Asset Management LLC increased its position in Varonis Systems by 1.1% in the second quarter. NorthCoast Asset Management LLC now owns 39,241 shares of the technology company’s stock worth $1,460,000 after buying an additional 426 shares in the last quarter. American International Group Inc. increased 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 in the last quarter. Finally, Legal & General Group Plc increased 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 in the last quarter. Institutional investors and hedge funds own 82.41% 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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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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