Varonis Systems Inc. (NASDAQ:VRNS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $33.00 target price on the stock. Zacks Investment Research’s price objective indicates a potential upside of 6.80% from the stock’s current price.
According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “
Several other brokerages also recently weighed in on VRNS. Needham & Company LLC upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Wednesday, August 10th. Jefferies Group lifted their price objective on shares of Varonis Systems from $26.00 to $31.00 and gave the company a “buy” rating in a research report on Wednesday, August 10th. Imperial Capital reiterated an “outperform” rating and issued a $35.00 price objective on shares of Varonis Systems in a research report on Friday, September 9th. JMP Securities lifted their price objective on shares of Varonis Systems from $29.00 to $33.00 and gave the company a “market outperform” rating in a research report on Wednesday, August 10th. Finally, Royal Bank Of Canada raised their target price on shares of Varonis Systems from $27.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, August 10th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Varonis Systems has a consensus rating of “Buy” and an average target price of $31.33.
Varonis Systems (NASDAQ:VRNS) opened at 30.90 on Thursday. The firm’s market capitalization is $824.29 million. The stock’s 50 day moving average is $29.24 and its 200-day moving average is $26.41. Varonis Systems has a 52 week low of $13.25 and a 52 week high of $32.05.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Thursday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.08. The firm had revenue of $40.90 million for the quarter, compared to the consensus estimate of $38.60 million. Varonis Systems had a negative net margin of 12.09% and a negative return on equity of 23.71%. Varonis Systems’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.10) EPS. On average, equities research analysts expect that Varonis Systems will post ($0.21) EPS for the current year.
In related news, insider Ohad Korkus sold 34,568 shares of the firm’s stock in a transaction that occurred on Monday, August 22nd. The shares were sold at an average price of $28.30, for a total transaction of $978,274.40. Following the completion of the sale, the insider now directly owns 993,699 shares in the company, valued at $28,121,681.70. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Iv L.P. Evergreen sold 10,600 shares of the firm’s stock in a transaction that occurred on Wednesday, August 17th. The stock was sold at an average price of $27.59, for a total transaction of $292,454.00. The disclosure for this sale can be found here. 31.40% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its stake in Varonis Systems by 21.0% in the second quarter. Nationwide Fund Advisors now owns 6,986 shares of the company’s stock valued at $168,000 after buying an additional 1,211 shares in the last quarter. Lebenthal Lisanti Capital Growth LLC bought a new stake in Varonis Systems during the second quarter valued at approximately $364,000. EAM Investors LLC bought a new stake in Varonis Systems during the second quarter valued at approximately $1,003,000. Jennison Associates LLC boosted its stake in Varonis Systems by 6.1% in the second quarter. Jennison Associates LLC now owns 1,667,302 shares of the company’s stock valued at $40,049,000 after buying an additional 95,439 shares in the last quarter. Finally, Emerald Acquisition Ltd. bought a new stake in Varonis Systems during the second quarter valued at approximately $1,023,000. Institutional investors and hedge funds own 43.56% of the company’s stock.
Varonis Systems Company Profile
Varonis Systems, Inc (Varonis) provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Company specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees.
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