Needham & Company LLC Boosts Varonis Systems, Inc. (VRNS) Price Target to $45.00

Varonis Systems, Inc. (NASDAQ:VRNS) had its target price boosted by Needham & Company LLC from $43.00 to $45.00 in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a buy rating on the technology company’s stock.

Other equities analysts also recently issued reports about the stock. BidaskClub downgraded shares of Varonis Systems from a hold rating to a sell rating in a report on Tuesday, August 1st. Royal Bank Of Canada reissued a buy rating and set a $42.00 price target on shares of Varonis Systems in a report on Thursday, July 20th. Barclays PLC reissued a hold rating and set a $45.00 price target on shares of Varonis Systems in a report on Wednesday, July 19th. Stifel Nicolaus reissued a buy rating and set a $44.00 price target (up from $40.00) on shares of Varonis Systems in a report on Friday, August 4th. Finally, Imperial Capital lifted their price target on shares of Varonis Systems from $35.00 to $39.00 and gave the company an outperform rating in a report on Monday, May 8th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus price target of $42.60.

Varonis Systems (VRNS) opened at 37.60 on Monday. Varonis Systems has a 52-week low of $24.45 and a 52-week high of $40.00. The company’s market cap is $1.03 billion. The firm has a 50-day moving average of $37.77 and a 200 day moving average of $33.44.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. The company had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative net margin of 9.03% and a negative return on equity of 20.94%. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.12) EPS. Equities research analysts expect that Varonis Systems will post $0.09 earnings per share for the current fiscal year.

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In other Varonis Systems news, CEO Yakov Faitelson sold 915 shares of the firm’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $37.00, for a total value of $33,855.00. Following the completion of the sale, the chief executive officer now owns 434,489 shares in the company, valued at approximately $16,076,093. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ohad Korkus sold 57,938 shares of the firm’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $39.04, for a total transaction of $2,261,899.52. Following the completion of the sale, the insider now owns 214,108 shares of the company’s stock, valued at approximately $8,358,776.32. The disclosure for this sale can be found here. Insiders sold a total of 344,998 shares of company stock valued at $13,084,586 in the last 90 days. Corporate insiders own 19.50% of the company’s stock.

A number of large investors have recently bought and sold shares of VRNS. Oppenheimer Asset Management Inc. bought a new stake in Varonis Systems during the second quarter valued at $122,000. Fortaleza Asset Management Inc. bought a new stake in Varonis Systems during the second quarter valued at $151,000. Legal & General Group Plc boosted 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 valued at $159,000 after buying an additional 1,223 shares during the last quarter. Adams Street Partners LLC bought a new stake in Varonis Systems during the second quarter valued at $163,000. Finally, Van ECK Associates Corp boosted its stake in Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after buying an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 64.93% of the company’s stock.

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, Data 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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