Varonis Systems (NASDAQ:VRNS) Stock Rating Upgraded by ValuEngine

ValuEngine upgraded shares of Varonis Systems (NASDAQ:VRNS) from a buy rating to a strong-buy rating in a research report report published on Saturday morning, ValuEngine reports.

VRNS has been the subject of a number of other reports. Barclays cut their price objective on shares of Varonis Systems from $81.00 to $68.00 and set an equal weight rating for the company in a research report on Monday, October 7th. BidaskClub upgraded shares of Varonis Systems from a sell rating to a hold rating in a research report on Friday, October 11th. Jefferies Financial Group raised their price objective on shares of Varonis Systems from $88.00 to $92.00 and gave the company a buy rating in a research report on Tuesday, October 8th. Wedbush raised their price objective on shares of Varonis Systems from $85.00 to $90.00 and gave the company an outperform rating in a research report on Tuesday, July 30th. Finally, Benchmark upgraded shares of Varonis Systems from a hold rating to a buy rating in a research report on Tuesday, July 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of Buy and an average price target of $74.92.

Shares of NASDAQ:VRNS opened at $61.22 on Friday. The firm has a market capitalization of $1.89 billion, a PE ratio of -62.47 and a beta of 0.85. Varonis Systems has a twelve month low of $48.67 and a twelve month high of $80.00. The company has a 50-day moving average price of $63.00 and a two-hundred day moving average price of $65.29.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.16). The business had revenue of $59.62 million for the quarter, compared to the consensus estimate of $62.37 million. Varonis Systems had a negative return on equity of 40.22% and a negative net margin of 17.73%. Sell-side analysts expect that Varonis Systems will post -2.32 EPS for the current year.

In related news, SVP James O’boyle sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $77.30, for a total value of $1,159,500.00. Following the sale, the senior vice president now directly owns 101,379 shares of the company’s stock, valued at $7,836,596.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ohad Korkus sold 6,861 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $80.00, for a total transaction of $548,880.00. Following the completion of the sale, the director now directly owns 29,013 shares in the company, valued at $2,321,040. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Delek Group Ltd. raised its stake in Varonis Systems by 1.6% in the second quarter. Delek Group Ltd. now owns 14,742 shares of the technology company’s stock valued at $892,000 after purchasing an additional 238 shares in the last quarter. United Services Automobile Association raised its stake in Varonis Systems by 7.4% in the second quarter. United Services Automobile Association now owns 4,555 shares of the technology company’s stock valued at $282,000 after purchasing an additional 312 shares in the last quarter. Bank of Montreal Can raised its stake in Varonis Systems by 1.1% in the second quarter. Bank of Montreal Can now owns 27,762 shares of the technology company’s stock valued at $1,720,000 after purchasing an additional 314 shares in the last quarter. Captrust Financial Advisors raised its stake in Varonis Systems by 103.9% in the second quarter. Captrust Financial Advisors now owns 736 shares of the technology company’s stock valued at $46,000 after purchasing an additional 375 shares in the last quarter. Finally, Atria Investments LLC raised its stake in shares of Varonis Systems by 11.2% during the second quarter. Atria Investments LLC now owns 4,857 shares of the technology company’s stock worth $340,000 after acquiring an additional 489 shares in the last quarter. 93.63% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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