Varonis Systems (VRNS) Upgraded at BidaskClub

Varonis Systems (NASDAQ:VRNS) was upgraded by equities research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday.

Several other brokerages also recently issued reports on VRNS. Oppenheimer started coverage on shares of Varonis Systems in a research report on Wednesday, December 6th. They set an “outperform” rating and a $57.00 price objective on the stock. Zacks Investment Research downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating in a research report on Saturday. Jefferies Group raised their price objective on shares of Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Barclays reissued a “neutral” rating on shares of Varonis Systems in a research report on Tuesday, December 19th. Finally, Needham & Company LLC reissued a “buy” rating on shares of Varonis Systems in a research report on Friday, November 3rd. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $49.70.

Shares of Varonis Systems (VRNS) opened at $52.15 on Wednesday. Varonis Systems has a one year low of $25.20 and a one year high of $53.60. The company has a market cap of $1,450.00, a price-to-earnings ratio of -89.91 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The firm had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. During the same period last year, the business earned ($0.03) EPS. Varonis Systems’s revenue for the quarter was up 31.1% compared to the same quarter last year. research analysts expect that Varonis Systems will post -0.53 EPS for the current year.

In other news, CFO Guy Melamed sold 605 shares of Varonis Systems stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $43.65, for a total value of $26,408.25. Following the sale, the chief financial officer now owns 95,491 shares of the company’s stock, valued at $4,168,182.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Yakov Faitelson sold 50,000 shares of Varonis Systems stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $44.57, for a total transaction of $2,228,500.00. The disclosure for this sale can be found here. Insiders have sold a total of 337,384 shares of company stock worth $16,734,434 over the last three months. 19.50% of the stock is currently owned by insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Varonis Systems by 11.0% in the second quarter. Vanguard Group Inc. now owns 826,449 shares of the technology company’s stock valued at $30,744,000 after acquiring an additional 82,109 shares in the last quarter. ETF Managers Group LLC purchased a new stake in shares of Varonis Systems in the second quarter valued at about $18,092,000. Renaissance Technologies LLC boosted its holdings in shares of Varonis Systems by 4,112.1% in the second quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock valued at $16,766,000 after acquiring an additional 440,000 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in shares of Varonis Systems by 316.7% in the second quarter. UBS Asset Management Americas Inc. now owns 384,434 shares of the technology company’s stock valued at $14,301,000 after purchasing an additional 292,178 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Varonis Systems by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 367,787 shares of the technology company’s stock valued at $15,412,000 after purchasing an additional 14,829 shares during the period. 84.46% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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