Varonis Systems, Inc. (NASDAQ:VRNS) has earned a consensus recommendation of “Buy” from the thirteen brokerages that are covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $43.33.

Several equities analysts have recently commented on the stock. BidaskClub cut shares of Varonis Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Royal Bank Of Canada reaffirmed a “buy” rating and set a $42.00 price target on shares of Varonis Systems in a research report on Thursday, July 20th. Barclays PLC reaffirmed a “hold” rating and set a $45.00 price target on shares of Varonis Systems in a research report on Wednesday, July 19th. Needham & Company LLC increased their price target on shares of Varonis Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $44.00 price target (up previously from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th.

In other Varonis Systems news, CEO Yakov Faitelson sold 50,000 shares of the firm’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $44.57, for a total value of $2,228,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Guy Melamed sold 1,150 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $38.35, for a total transaction of $44,102.50. Following the completion of the transaction, the chief financial officer now directly owns 96,295 shares in the company, valued at approximately $3,692,913.25. The disclosure for this sale can be found here. Insiders sold 465,615 shares of company stock worth $19,092,629 in the last three months. 19.50% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings 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 acquiring an additional 296 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings 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 acquiring an additional 373 shares during the last quarter. NorthCoast Asset Management LLC lifted its holdings 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 acquiring an additional 426 shares during the last quarter. American International Group Inc. lifted its holdings 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 acquiring an additional 437 shares during the last quarter. Finally, Legal & General Group Plc lifted its holdings 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 acquiring an additional 1,223 shares during the last quarter. 82.48% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems (NASDAQ:VRNS) traded up 0.90% on Wednesday, hitting $44.75. The stock had a trading volume of 320,025 shares. The firm’s market cap is $1.23 billion. The company’s 50-day moving average price is $42.15 and its 200 day moving average price is $37.66. Varonis Systems has a one year low of $24.45 and a one year high of $45.20.

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

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Varonis Systems Company Profile

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.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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