Varonis Systems (VRNS) Given Outperform Rating at Imperial Capital

Varonis Systems (NASDAQ:VRNS)‘s stock had its “outperform” rating reaffirmed by stock analysts at Imperial Capital in a report issued on Tuesday, The Fly reports. They presently have a $63.00 price objective on the technology company’s stock, up from their prior price objective of $52.00. Imperial Capital’s price objective suggests a potential upside of 16.88% from the stock’s previous close.

Several other equities analysts have also recently weighed in on VRNS. Stifel Nicolaus raised their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Tuesday. Barclays raised their price target on shares of Varonis Systems from $54.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday. Zacks Investment Research cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, February 7th. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research report on Thursday, February 8th. Finally, Royal Bank of Canada raised their price target on shares of Varonis Systems to $63.00 and gave the company an “outperform” rating in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $57.73.

Shares of Varonis Systems (NASDAQ VRNS) traded up $1.50 during midday trading on Tuesday, reaching $53.90. 521,300 shares of the company traded hands, compared to its average volume of 229,031. Varonis Systems has a twelve month low of $26.35 and a twelve month high of $55.85. The company has a market cap of $1,458.75, a PE ratio of -92.93 and a beta of 0.89.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.07. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The business had revenue of $73.20 million for the quarter, compared to analysts’ expectations of $66.29 million. During the same quarter last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 34.6% compared to the same quarter last year. research analysts anticipate that Varonis Systems will post -0.48 EPS for the current fiscal year.

In other Varonis Systems news, CFO Guy Melamed sold 897 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $48.95, for a total value of $43,908.15. Following the completion of the sale, the chief financial officer now owns 95,408 shares in the company, valued at approximately $4,670,221.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yakov Faitelson sold 63,807 shares of the stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $50.35, for a total transaction of $3,212,682.45. Following the completion of the sale, the chief executive officer now owns 157,651 shares of the company’s stock, valued at approximately $7,937,727.85. The disclosure for this sale can be found here. In the last quarter, insiders sold 276,323 shares of company stock valued at $13,977,286. Company insiders own 19.50% of the company’s stock.

Large investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. increased its stake in Varonis Systems by 35.9% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 91,095 shares of the technology company’s stock valued at $3,817,000 after buying an additional 24,049 shares during the last quarter. New York State Common Retirement Fund increased its stake in shares of Varonis Systems by 217.6% during the 2nd quarter. New York State Common Retirement Fund now owns 38,120 shares of the technology company’s stock worth $1,418,000 after purchasing an additional 26,119 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of Varonis Systems during the 3rd quarter worth approximately $1,267,000. Convergence Investment Partners LLC purchased a new stake in shares of Varonis Systems during the 4th quarter worth approximately $1,666,000. Finally, Bank of New York Mellon Corp increased its stake in shares of Varonis Systems by 4.2% during the 3rd quarter. Bank of New York Mellon Corp now owns 367,787 shares of the technology company’s stock worth $15,412,000 after purchasing an additional 14,829 shares during the last quarter. Hedge funds and other institutional investors own 84.91% of the company’s stock.

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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.

The Fly

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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