Varonis Systems, Inc. (VRNS) Stock Rating Reaffirmed by Needham & Company LLC
Varonis Systems, Inc. (NASDAQ:VRNS)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a research note issued to investors on Friday.
VRNS has been the topic of a number of other reports. BidaskClub cut shares of Varonis Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 price target on shares of Varonis Systems in a research note on Thursday, July 20th. Barclays PLC reiterated a “hold” rating and set a $45.00 price target on shares of Varonis Systems in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Thursday. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $44.00 price target (up previously from $40.00) on shares of Varonis Systems in a research note on Friday, August 4th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Varonis Systems currently has a consensus rating of “Buy” and an average price target of $44.90.
Shares of Varonis Systems (NASDAQ VRNS) traded up $5.65 on Friday, reaching $48.70. 1,330,508 shares of the company traded hands, compared to its average volume of 252,802.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 19.29%. The company had revenue of $53.60 million for the quarter, compared to the consensus estimate of $50.53 million. During the same period in the prior year, the firm posted ($0.03) EPS. The company’s quarterly revenue was up 31.1% compared to the same quarter last year. analysts predict that Varonis Systems will post -0.58 EPS for the current year.
In other Varonis Systems news, CFO Guy Melamed sold 605 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.65, for a total transaction of $26,408.25. Following the completion of the transaction, the chief financial officer now directly owns 95,491 shares in the company, valued at approximately $4,168,182.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gili Iohan sold 50,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $39.32, for a total transaction of $1,966,000.00. Following the transaction, the director now owns 59,650 shares of the company’s stock, valued at $2,345,438. The disclosure for this sale can be found here. Insiders sold 465,013 shares of company stock valued at $19,116,878 in the last quarter. Company insiders own 19.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Prudential Financial Inc. grew its holdings in shares of Varonis Systems by 11.8% during the third quarter. Prudential Financial Inc. now owns 205,580 shares of the technology company’s stock worth $8,614,000 after buying an additional 21,780 shares in the last quarter. USA Financial Portformulas Corp acquired a new stake in shares of Varonis Systems in the third quarter worth approximately $527,000. Chicago Equity Partners LLC boosted its position in shares of Varonis Systems by 30.1% in the third quarter. Chicago Equity Partners LLC now owns 104,855 shares of the technology company’s stock worth $4,393,000 after acquiring an additional 24,260 shares during the last quarter. Schmidt P J Investment Management Inc. acquired a new stake in shares of Varonis Systems in the third quarter worth approximately $243,000. Finally, Castleark Management LLC acquired a new stake in shares of Varonis Systems in the second quarter worth approximately $7,861,000. Institutional investors and hedge funds own 82.15% of the company’s stock.
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.
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