Jefferies Group LLC Raises Varonis Systems, Inc. (VRNS) Price Target to $55.00

Varonis Systems, Inc. (NASDAQ:VRNS) had its target price raised by research analysts at Jefferies Group LLC from $52.00 to $55.00 in a report released on Friday. The brokerage presently has a “buy” rating on the technology company’s stock.

Other analysts have also recently issued research reports about the company. Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price objective (up previously from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th. BidaskClub upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Thursday. Needham & Company LLC raised their target price on Varonis Systems from $43.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, Barclays PLC raised their target price on Varonis Systems from $45.00 to $47.00 and gave the stock an “equal weight” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $44.90.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. The firm had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $50.53 million. Varonis Systems had a negative return on equity of 19.29% and a negative net margin of 7.91%. The business’s quarterly revenue was up 31.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS. equities analysts expect that Varonis Systems will post -0.58 EPS for the current fiscal year.

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In other Varonis Systems news, insider Ohad Korkus sold 98,331 shares of Varonis Systems stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $40.68, for a total transaction of $4,000,105.08. Following the completion of the transaction, the insider now owns 139,108 shares in the company, valued at approximately $5,658,913.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James O’boyle sold 40,000 shares of Varonis Systems stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $40.88, for a total value of $1,635,200.00. Following the transaction, the senior vice president now owns 124,189 shares of the company’s stock, valued at approximately $5,076,846.32. The disclosure for this sale can be found here. Insiders have sold a total of 459,053 shares of company stock valued at $18,833,430 in the last quarter. Company insiders own 19.50% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp raised its stake in shares of Varonis Systems by 5.9% during the 2nd 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. NorthCoast Asset Management LLC raised its stake in shares of Varonis Systems by 1.1% during the 2nd quarter. NorthCoast Asset Management LLC now owns 39,241 shares of the technology company’s stock valued at $1,460,000 after buying an additional 426 shares during the last quarter. American International Group Inc. raised its stake in shares of Varonis Systems by 7.1% during the 1st quarter. American International Group Inc. now owns 6,588 shares of the technology company’s stock valued at $209,000 after buying an additional 437 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Varonis Systems by 39.6% during the 2nd 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. Finally, Trexquant Investment LP increased its stake in shares of Varonis Systems by 10.2% in the 2nd quarter. Trexquant Investment LP now owns 15,895 shares of the technology company’s stock valued at $591,000 after purchasing an additional 1,476 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

About Varonis Systems

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.

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