Varonis Systems, Inc. (NASDAQ:VRNS) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Varonis Systems, Inc. (NASDAQ:VRNS) in a research note issued to investors on Friday, November 3rd.

Several other equities research analysts have also weighed in on VRNS. Zacks Investment Research raised shares of Varonis Systems from a hold rating to a buy rating and set a $42.00 target price on the stock in a report on Thursday, August 10th. BidaskClub downgraded shares of Varonis Systems from a hold rating to a sell rating in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a buy rating and set a $45.00 price target (up previously from $41.00) on shares of Varonis Systems in a research report on Friday, August 4th. Stifel Nicolaus restated a buy rating and set a $44.00 target price (up from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th. Finally, Imperial Capital restated an outperform rating and set a $46.00 target price (up from $39.00) on shares of Varonis Systems in a research report on Friday, August 4th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has an average rating of Buy and an average target price of $44.90.

Varonis Systems (NASDAQ:VRNS) opened at $48.65 on Friday. Varonis Systems has a 52-week low of $24.75 and a 52-week high of $51.70.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share (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 quarter in the previous year, the firm posted ($0.03) EPS. The business’s revenue for the quarter was up 31.1% on a year-over-year basis. sell-side analysts anticipate that Varonis Systems will post -0.53 earnings per share for the current year.

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In other news, CFO Guy Melamed sold 1,150 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $38.35, for a total value of $44,102.50. Following the completion of the sale, the chief financial officer now owns 96,295 shares of the company’s stock, valued at approximately $3,692,913.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ohad Korkus sold 21,990 shares of the stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $40.01, for a total value of $879,819.90. Following the completion of the sale, the insider now directly owns 192,618 shares of the company’s stock, valued at approximately $7,706,646.18. The disclosure for this sale can be found here. Insiders have sold a total of 465,114 shares of company stock valued at $19,121,827 over the last ninety days. Company insiders own 19.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. acquired a new stake in Varonis Systems during the 2nd quarter valued at $122,000. Fortaleza Asset Management Inc. acquired a new stake in shares of Varonis Systems during the second quarter worth $151,000. Legal & General Group Plc lifted its holdings in shares of Varonis Systems by 39.6% during the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after buying an additional 1,223 shares in the last quarter. Adams Street Partners LLC acquired a new stake in shares of Varonis Systems during the second quarter worth $163,000. Finally, Van ECK Associates Corp lifted its holdings in shares of Varonis Systems by 5.9% during the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after buying an additional 296 shares in the last quarter. 78.98% of the stock is owned by institutional investors and hedge funds.

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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