Varonis Systems (VRNS) Price Target Increased to $58.00 by Analysts at JMP Securities

Varonis Systems (NASDAQ:VRNS) had its price target increased by equities researchers at JMP Securities from $56.00 to $58.00 in a report issued on Tuesday. The brokerage currently has a “market outperform” rating on the technology company’s stock. JMP Securities’ price objective points to a potential upside of 7.11% from the stock’s previous close.

Several other research firms also recently issued reports on VRNS. BidaskClub upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Needham & Company LLC boosted their price target on Varonis Systems from $52.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, January 19th. Oppenheimer started coverage on Varonis Systems in a research note on Wednesday, December 6th. They issued an “outperform” rating and a $57.00 price target for the company. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Jefferies Group boosted their price target on Varonis Systems from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.75.

Varonis Systems (NASDAQ:VRNS) traded up $0.25 on Tuesday, reaching $54.15. The company had a trading volume of 848,150 shares, compared to its average volume of 249,732. The company has a market cap of $1,458.75, a P/E ratio of -93.36 and a beta of 0.89. Varonis Systems has a twelve month low of $26.35 and a twelve month high of $55.85.

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

In other news, CFO Guy Melamed sold 897 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total transaction of $43,908.15. Following the completion of the transaction, the chief financial officer now owns 95,408 shares of the company’s stock, valued at approximately $4,670,221.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Yakov Faitelson sold 46,569 shares of the business’s stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $51.16, for a total value of $2,382,470.04. Following the transaction, the chief executive officer now directly owns 211,572 shares of the company’s stock, valued at approximately $10,824,023.52. The disclosure for this sale can be found here. Insiders sold a total of 276,323 shares of company stock valued at $13,977,286 over the last ninety days. Insiders own 19.50% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Schwab Charles Investment Management Inc. raised its holdings in shares of Varonis Systems by 35.9% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 91,095 shares of the technology company’s stock worth $3,817,000 after buying an additional 24,049 shares in the last quarter. New York State Common Retirement Fund raised its holdings 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 buying an additional 26,119 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of Varonis Systems during the 3rd quarter worth $1,267,000. Convergence Investment Partners LLC acquired a new position in shares of Varonis Systems during the 4th quarter worth $1,666,000. Finally, Bank of New York Mellon Corp raised its holdings 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 buying an additional 14,829 shares in the last quarter. 84.91% of the stock is owned by institutional investors.

WARNING: This piece was originally reported by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another publication, it was copied illegally and reposted in violation of international copyright & trademark legislation. The legal version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/13/varonis-systems-vrns-price-target-increased-to-58-00-by-analysts-at-jmp-securities.html.

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)

Receive News & Ratings for Varonis Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varonis Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply