Varonis Systems (VRNS) Stock Rating Reaffirmed by Benchmark

Varonis Systems (NASDAQ:VRNS)‘s stock had its “buy” rating restated by equities research analysts at Benchmark in a research report issued to clients and investors on Friday. They currently have a $60.00 price target on the technology company’s stock. Benchmark’s price target would suggest a potential upside of 14.61% from the stock’s current price.

Several other brokerages have also recently issued reports on VRNS. Stifel Nicolaus reissued a “buy” rating and issued a $48.00 price objective (up from $44.00) on shares of Varonis Systems in a research note on Monday, September 11th. Barclays boosted their price objective on shares of Varonis Systems from $45.00 to $47.00 and gave the company an “equal weight” rating in a research note on Friday, August 4th. Jefferies Group reissued a “buy” rating and issued a $45.00 price objective (up from $41.00) on shares of Varonis Systems in a research note on Friday, August 4th. Zacks Investment Research cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Thursday, October 5th. Finally, Imperial Capital reissued an “outperform” rating and issued a $46.00 price objective (up from $39.00) on shares of Varonis Systems in a research note on Friday, August 4th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $46.90.

Varonis Systems (NASDAQ:VRNS) opened at $52.35 on Friday. Varonis Systems has a 12 month low of $24.75 and a 12 month high of $53.60.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. Varonis Systems’s revenue was up 31.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. sell-side analysts forecast that Varonis Systems will post -0.53 earnings per share for the current fiscal year.

In other news, CEO Yakov Faitelson sold 63,807 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $50.35, for a total transaction of $3,212,682.45. Following the transaction, the chief executive officer now directly owns 157,651 shares of the company’s stock, valued at approximately $7,937,727.85. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ohad Korkus sold 98,331 shares of the company’s stock in a transaction on 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 transaction, the insider now directly owns 139,108 shares in the company, valued at $5,658,913.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 745,540 shares of company stock worth $33,295,456. Corporate insiders own 19.50% of the company’s stock.

Several large investors have recently bought and sold shares of the company. TIAA CREF Investment Management LLC boosted its position in shares of Varonis Systems by 11.7% in the 1st quarter. TIAA CREF Investment Management LLC now owns 62,246 shares of the technology company’s stock worth $1,979,000 after buying an additional 6,524 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Varonis Systems by 30.4% in the 1st quarter. Vanguard Group Inc. now owns 744,340 shares of the technology company’s stock worth $23,670,000 after buying an additional 173,332 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Varonis Systems by 4.9% in the 1st quarter. Geode Capital Management LLC now owns 137,106 shares of the technology company’s stock worth $4,359,000 after buying an additional 6,434 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Varonis Systems in the 1st quarter worth about $340,000. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of Varonis Systems by 7.6% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 51,147 shares of the technology company’s stock worth $1,627,000 after buying an additional 3,591 shares in the last quarter. 84.42% of the stock is currently owned by institutional investors and hedge funds.

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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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