Analysts at Oppenheimer initiated coverage on shares of Varonis Systems (NASDAQ:VRNS) in a report released on Wednesday. The brokerage set an “outperform” rating and a $57.00 price target on the technology company’s stock. Oppenheimer’s price objective points to a potential upside of 18.38% from the company’s current price.

VRNS has been the subject of a number of other research reports. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Thursday, August 10th. Needham & Company LLC boosted 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. BidaskClub raised Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Jefferies Group reissued a “buy” rating and set a $45.00 target price on shares of Varonis Systems in a research note on Thursday, September 7th. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $44.00 price objective on shares of Varonis Systems in a research note on Monday, September 11th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $47.82.

Varonis Systems (NASDAQ VRNS) traded up $0.60 during trading on Wednesday, reaching $48.15. 361,200 shares of the company traded hands, compared to its average volume of 296,938. Varonis Systems has a twelve month low of $24.75 and a twelve month high of $53.60.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. The firm had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The business’s revenue was up 31.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. analysts forecast that Varonis Systems will post -0.53 earnings per share for the current fiscal year.

In related news, insider Ohad Korkus sold 48,024 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $50.26, for a total value of $2,413,686.24. Following the transaction, the insider now directly owns 31,872 shares in the company, valued at approximately $1,601,886.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP James O’boyle sold 40,000 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $40.88, for a total value of $1,635,200.00. Following the completion of the transaction, the senior vice president now owns 124,189 shares in the company, valued at $5,076,846.32. The disclosure for this sale can be found here. Insiders have sold a total of 744,390 shares of company stock valued at $33,251,353 in the last three months. Insiders own 19.50% of the company’s stock.

Several institutional investors have recently made changes to their positions in VRNS. GSA Capital Partners LLP increased its holdings in Varonis Systems by 64.0% in the 3rd quarter. GSA Capital Partners LLP now owns 10,118 shares of the technology company’s stock worth $424,000 after acquiring an additional 3,950 shares during the last quarter. Coe Capital Management LLC bought a new position in Varonis Systems in the 3rd quarter worth about $890,000. Insight Capital Research & Management Inc. bought a new position in Varonis Systems in the 3rd quarter worth about $1,305,000. Cubist Systematic Strategies LLC bought a new position in Varonis Systems in the 3rd quarter worth about $304,000. Finally, Jane Street Group LLC bought a new position in Varonis Systems in the 3rd quarter worth about $1,267,000. 84.46% of the stock is owned by hedge funds and other institutional investors.

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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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