Varonis Systems (VRNS) Rating Reiterated by Oppenheimer

Varonis Systems (NASDAQ:VRNS)‘s stock had its “buy” rating reaffirmed by research analysts at Oppenheimer in a research note issued on Wednesday. They presently have a $57.00 price objective on the technology company’s stock. Oppenheimer’s target price suggests a potential upside of 18.13% from the company’s current price.

A number of other research analysts have also commented on VRNS. Royal Bank of Canada restated a “buy” rating and issued a $55.00 target price on shares of Varonis Systems in a research note on Thursday, December 7th. Benchmark restated a “buy” rating and issued a $60.00 target price on shares of Varonis Systems in a research note on Friday, December 1st. Needham & Company LLC restated a “buy” rating on shares of Varonis Systems in a research note on Friday, November 3rd. Jefferies Group upped their target price on Varonis Systems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Finally, 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, November 2nd. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $48.82.

Shares of Varonis Systems (VRNS) traded up $0.55 during mid-day trading on Wednesday, hitting $48.25. The stock had a trading volume of 340,700 shares, compared to its average volume of 299,889. Varonis Systems has a one year low of $24.75 and a one year high of $53.60.

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

In other Varonis Systems news, insider Ohad Korkus sold 21,990 shares of the stock in a transaction on Friday, September 15th. The stock was sold at an average price of $40.01, for a total transaction of $879,819.90. Following the completion of the transaction, the insider now directly owns 192,618 shares in the company, valued at $7,706,646.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the senior vice president now owns 124,189 shares of the company’s stock, valued at $5,076,846.32. The disclosure for this sale can be found here. Insiders have sold 694,390 shares of company stock valued at $31,285,353 over the last quarter. Corporate insiders own 19.50% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in VRNS. Penserra Capital Management LLC grew its holdings in shares of Varonis Systems by 14,598.8% during the first quarter. Penserra Capital Management LLC now owns 559,142 shares of the technology company’s stock worth $17,780,000 after purchasing an additional 555,338 shares during the last quarter. J. Goldman & Company bought a new stake in shares of Varonis Systems during the third quarter worth $8,584,000. Russell Investments Group Ltd. grew its holdings in shares of Varonis Systems by 355.9% during the second quarter. Russell Investments Group Ltd. now owns 633,852 shares of the technology company’s stock worth $23,579,000 after purchasing an additional 494,824 shares during the last quarter. ETF Managers Group LLC bought a new stake in shares of Varonis Systems during the second quarter worth $18,092,000. Finally, Renaissance Technologies LLC grew its holdings in shares of Varonis Systems by 4,112.1% during the second quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock worth $16,766,000 after purchasing an additional 440,000 shares during the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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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.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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