Varonis Systems (NASDAQ:VRNS) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Thursday.
Other analysts have also issued reports about the stock. Oppenheimer restated a “buy” rating and set a $57.00 price target on shares of Varonis Systems in a research report on Wednesday, December 13th. Royal Bank of Canada restated a “buy” rating and set a $55.00 price target on shares of Varonis Systems in a research report on Thursday, December 7th. Benchmark restated a “buy” rating and set a $60.00 price target on shares of Varonis Systems in a research report on Friday, December 1st. Needham & Company LLC restated a “buy” rating on shares of Varonis Systems in a research report on Friday, November 3rd. Finally, Jefferies Group upped their price target on shares of Varonis Systems from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Varonis Systems has a consensus rating of “Buy” and a consensus target price of $53.36.
Varonis Systems (NASDAQ:VRNS) traded up $0.35 during midday trading on Thursday, reaching $52.40. 341,585 shares of the company’s stock traded hands, compared to its average volume of 202,680. Varonis Systems has a twelve month low of $25.20 and a twelve month high of $55.85. The stock has a market capitalization of $1,458.76, a price-to-earnings ratio of -90.34 and a beta of 0.89.
Hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc raised its stake 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 buying an additional 1,223 shares in the last quarter. CAPROCK Group Inc. bought a new position in Varonis Systems in the fourth quarter worth about $220,000. Schmidt P J Investment Management Inc. bought a new position in Varonis Systems in the third quarter worth about $243,000. Teacher Retirement System of Texas bought a new position in Varonis Systems in the fourth quarter worth about $254,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Varonis Systems by 327.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,872 shares of the technology company’s stock worth $288,000 after buying an additional 5,263 shares in the last quarter. 84.29% of the stock is owned by 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.
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