Varonis Systems Inc (NASDAQ:VRNS) Given Average Recommendation of “Buy” by Brokerages
by Amy Steele
Varonis Systems Inc (NASDAQ:VRNS) has been given a consensus recommendation of “Buy” by the seventeen ratings firms that are currently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and twelve have issued a buy recommendation on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $76.00.
A number of equities analysts have recently commented on VRNS shares. Craig Hallum lifted their price target on shares of Varonis Systems from $75.00 to $82.00 in a research report on Tuesday, October 29th. Barclays lowered their price objective on shares of Varonis Systems from $81.00 to $68.00 and set an “equal weight” rating on the stock in a research note on Monday, October 7th. BidaskClub upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Saturday, November 16th. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $86.00 price objective on the stock in a research note on Friday. Finally, Robert W. Baird restated a “buy” rating on shares of Varonis Systems in a research note on Tuesday, October 29th.
Shares of NASDAQ:VRNS traded down $0.09 during trading on Monday, reaching $76.32. The stock had a trading volume of 35,888 shares, compared to its average volume of 172,338. Varonis Systems has a 52 week low of $48.67 and a 52 week high of $80.00. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of -77.88 and a beta of 0.87. The stock has a fifty day simple moving average of $71.93 and a two-hundred day simple moving average of $66.83.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, October 28th. The technology company reported ($0.16) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.18. Varonis Systems had a negative net margin of 21.42% and a negative return on equity of 49.47%. The company had revenue of $65.65 million for the quarter, compared to analyst estimates of $61.61 million. During the same quarter last year, the firm posted $0.06 earnings per share. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that Varonis Systems will post -2.45 earnings per share for the current fiscal year.
In other news, EVP David Bass sold 3,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $75.19, for a total value of $225,570.00. Following the sale, the executive vice president now owns 159,500 shares in the company, valued at $11,992,805. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 2.80% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Varonis Systems by 4.9% during the second quarter. BlackRock Inc. now owns 2,083,710 shares of the technology company’s stock worth $129,064,000 after buying an additional 96,533 shares in the last quarter. Soma Equity Partners LP lifted its holdings in shares of Varonis Systems by 75.0% during the second quarter. Soma Equity Partners LP now owns 1,050,000 shares of the technology company’s stock valued at $65,037,000 after acquiring an additional 450,000 shares during the period. Cadian Capital Management LP lifted its holdings in shares of Varonis Systems by 97.1% during the second quarter. Cadian Capital Management LP now owns 989,553 shares of the technology company’s stock valued at $61,293,000 after acquiring an additional 487,453 shares during the period. State Street Corp lifted its holdings in shares of Varonis Systems by 0.6% during the third quarter. State Street Corp now owns 641,979 shares of the technology company’s stock valued at $38,378,000 after acquiring an additional 3,617 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in shares of Varonis Systems by 24.5% during the second quarter. Mackenzie Financial Corp now owns 594,204 shares of the technology company’s stock valued at $36,805,000 after acquiring an additional 116,804 shares during the period. Hedge funds and other institutional investors own 96.83% of the company’s stock.
About Varonis Systems
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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