Jefferies Group LLC Boosts Varonis Systems, Inc. (VRNS) Price Target to $55.00
Varonis Systems, Inc. (NASDAQ:VRNS) had its price target lifted by research analysts at Jefferies Group LLC from $52.00 to $55.00 in a research report issued on Friday. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Group LLC’s price target points to a potential upside of 12.94% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Stifel Nicolaus restated a “buy” rating and set a $44.00 target price (up from $40.00) on shares of Varonis Systems in a research note on Friday, August 4th. BidaskClub upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Thursday. Needham & Company LLC upped their target price on Varonis Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Barclays PLC upped their target price on Varonis Systems from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $44.90.
Varonis Systems (NASDAQ:VRNS) traded up $5.65 during midday trading on Friday, reaching $48.70. The company’s stock had a trading volume of 1,342,100 shares, compared to its average volume of 252,802.
Varonis Systems (NASDAQ:VRNS) last released its earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. Varonis Systems had a negative return on equity of 19.29% and a negative net margin of 7.91%. The firm had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $50.53 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company’s quarterly revenue was up 31.1% on a year-over-year basis. equities analysts forecast that Varonis Systems will post -0.58 EPS for the current fiscal year.
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In related news, Director Gili Iohan sold 50,000 shares of the stock in a transaction on Friday, September 8th. The stock was sold at an average price of $39.32, for a total value of $1,966,000.00. Following the completion of the sale, the director now directly owns 59,650 shares in the company, valued at $2,345,438. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Guy Melamed sold 1,150 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $38.35, for a total value of $44,102.50. Following the completion of the sale, the chief financial officer now owns 96,295 shares of the company’s stock, valued at $3,692,913.25. The disclosure for this sale can be found here. Insiders have sold 465,013 shares of company stock valued at $19,116,878 over the last quarter. Company insiders own 19.50% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Varonis Systems by 11.0% in the second quarter. Vanguard Group Inc. now owns 826,449 shares of the technology company’s stock valued at $30,744,000 after purchasing an additional 82,109 shares during the period. Emerald Advisers Inc. PA increased its holdings in Varonis Systems by 4.6% in the second quarter. Emerald Advisers Inc. PA now owns 757,430 shares of the technology company’s stock valued at $28,176,000 after purchasing an additional 33,185 shares during the period. Russell Investments Group Ltd. increased its holdings in Varonis Systems by 355.9% in the second quarter. Russell Investments Group Ltd. now owns 633,852 shares of the technology company’s stock valued at $23,579,000 after purchasing an additional 494,824 shares during the period. Emerald Mutual Fund Advisers Trust increased its holdings in Varonis Systems by 4.9% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 580,463 shares of the technology company’s stock valued at $21,593,000 after purchasing an additional 27,248 shares during the period. Finally, ETF Managers Group LLC acquired a new stake in Varonis Systems in the second quarter valued at $18,092,000. 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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