Varonis Systems, Inc. (VRNS) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Varonis Systems, Inc. (NASDAQ:VRNS) from a buy rating to a hold rating in a research note released on Friday.

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. “

Other research analysts have also recently issued reports about the company. Brean Capital reiterated a buy rating on shares of Varonis Systems in a research report on Thursday, September 8th. JMP Securities reissued a buy rating on shares of Varonis Systems in a report on Friday, November 4th. Jefferies Group reissued a buy rating and issued a $36.00 price objective (up from $34.00) on shares of Varonis Systems in a report on Friday, November 4th. Finally, Imperial Capital reissued an outperform rating and issued a $35.00 price objective on shares of Varonis Systems in a report on Friday, September 9th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Varonis Systems presently has an average rating of Buy and a consensus target price of $32.36.

Varonis Systems (NASDAQ:VRNS) traded up 0.37% on Friday, reaching $26.85. The company’s stock had a trading volume of 609,344 shares. The company’s market capitalization is $716.25 million. Varonis Systems has a 12-month low of $13.25 and a 12-month high of $32.05. The firm has a 50-day moving average of $27.53 and a 200 day moving average of $27.74.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.08. The company earned $40.90 million during the quarter, compared to analysts’ expectations of $38.60 million. Varonis Systems had a negative return on equity of 23.71% and a negative net margin of 12.09%. Varonis Systems’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period last year, the business earned ($0.10) earnings per share. On average, equities research analysts anticipate that Varonis Systems will post ($0.21) EPS for the current fiscal year.

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In other Varonis Systems news, CEO Yakov Faitelson sold 4,800 shares of Varonis Systems stock in a transaction on Monday, November 7th. The stock was sold at an average price of $31.54, for a total value of $151,392.00. Following the sale, the chief executive officer now owns 927,951 shares in the company, valued at $29,267,574.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Gili Iohan sold 5,000 shares of Varonis Systems stock in a transaction on Friday, November 25th. The shares were sold at an average price of $30.72, for a total value of $153,600.00. The disclosure for this sale can be found here. 31.40% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the stock. US Bancorp DE acquired a new stake in Varonis Systems during the third quarter worth approximately $130,000. BlackRock Group LTD increased its stake in Varonis Systems by 10.1% in the third quarter. BlackRock Group LTD now owns 4,596 shares of the company’s stock valued at $138,000 after buying an additional 423 shares in the last quarter. BlackRock Advisors LLC increased its stake in Varonis Systems by 11.6% in the second quarter. BlackRock Advisors LLC now owns 5,967 shares of the company’s stock valued at $143,000 after buying an additional 620 shares in the last quarter. American International Group Inc. increased its stake in Varonis Systems by 17.4% in the second quarter. American International Group Inc. now owns 6,159 shares of the company’s stock valued at $148,000 after buying an additional 913 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new stake in Varonis Systems during the third quarter valued at about $196,000. Institutional investors own 44.05% 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.

5 Day Chart for NASDAQ:VRNS

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