Varonis Systems’ (VRNS) “Neutral” Rating Reiterated at Barclays

Barclays reaffirmed their neutral rating on shares of Varonis Systems (NASDAQ:VRNS) in a report published on Tuesday morning.

A number of other equities analysts have also recently commented on VRNS. Jefferies Group reaffirmed a buy rating and issued a $45.00 price target on shares of Varonis Systems in a research note on Thursday, September 7th. Royal Bank of Canada reissued a buy rating and set a $44.00 target price on shares of Varonis Systems in a research note on Monday, September 11th. Stifel Nicolaus reissued a buy rating and set a $48.00 target price (up from $44.00) on shares of Varonis Systems in a research note on Monday, September 11th. Zacks Investment Research cut Varonis Systems from a buy rating to a hold rating in a research note on Thursday, October 5th. Finally, Needham & Company LLC reissued a buy rating on shares of Varonis Systems in a research note on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $49.70.

Varonis Systems (NASDAQ VRNS) opened at $49.50 on Tuesday. Varonis Systems has a 12 month low of $25.05 and a 12 month high of $53.60.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. The business had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $50.53 million. Varonis Systems had a negative return on equity of 18.97% 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 period in the previous year, the firm earned ($0.03) EPS. equities research analysts predict that Varonis Systems will post -0.53 EPS for the current fiscal year.

In related news, Director Gili Iohan sold 52,569 shares of Varonis Systems stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $49.93, for a total transaction of $2,624,770.17. Following the sale, the director now directly owns 57,446 shares in the company, valued at $2,868,278.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Ohad Korkus sold 9,277 shares of Varonis Systems stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $51.28, for a total value of $475,724.56. Following the sale, the chief technology officer now owns 84,510 shares in the company, valued at $4,333,672.80. The disclosure for this sale can be found here. Insiders have sold 336,487 shares of company stock worth $16,690,525 over the last three months. 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 VRNS. Vanguard Group Inc. boosted its position in shares of Varonis Systems by 30.4% during the first quarter. Vanguard Group Inc. now owns 744,340 shares of the technology company’s stock valued at $23,670,000 after purchasing an additional 173,332 shares in the last quarter. Renaissance Technologies LLC bought a new stake in shares of Varonis Systems during the first quarter valued at approximately $340,000. Schwab Charles Investment Management Inc. boosted its position in shares of Varonis Systems by 7.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 51,147 shares of the technology company’s stock valued at $1,627,000 after purchasing an additional 3,591 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Varonis Systems by 26.6% during the second quarter. First Trust Advisors LP now owns 276,210 shares of the technology company’s stock valued at $10,275,000 after purchasing an additional 58,086 shares in the last quarter. Finally, Rhumbline Advisers boosted its position in shares of Varonis Systems by 80.4% during the second quarter. Rhumbline Advisers now owns 20,938 shares of the technology company’s stock valued at $779,000 after purchasing an additional 9,330 shares in the last quarter. Institutional investors own 84.46% of the company’s stock.

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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, 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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