Varonis Systems (VRNS) Stock Rating Upgraded by Zacks Investment Research

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Zacks Investment Research upgraded shares of Varonis Systems (NASDAQ:VRNS) from a sell rating to a hold rating in a research report released on Thursday morning, Zacks.com reports.

According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “

VRNS has been the topic of a number of other research reports. DA Davidson cut their price objective on shares of Varonis Systems to $62.00 and set a buy rating on the stock in a report on Tuesday, February 12th. Jefferies Financial Group reiterated a buy rating and issued a $73.00 price objective (down previously from $81.00) on shares of Varonis Systems in a report on Tuesday, February 12th. Robert W. Baird reiterated a buy rating and issued a $60.00 price objective (down previously from $75.00) on shares of Varonis Systems in a report on Tuesday, February 12th. BidaskClub upgraded shares of Varonis Systems from a hold rating to a buy rating in a report on Thursday, January 31st. Finally, Craig Hallum upgraded shares of Varonis Systems from a hold rating to a buy rating in a report on Tuesday, January 29th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $71.52.

Shares of NASDAQ:VRNS traded down $1.42 during midday trading on Thursday, hitting $71.34. 5,238 shares of the company’s stock traded hands, compared to its average volume of 447,436. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of -72.97 and a beta of 1.02. Varonis Systems has a twelve month low of $48.67 and a twelve month high of $83.10.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.04). The business had revenue of $56.40 million for the quarter, compared to analyst estimates of $59.36 million. Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. The business’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) EPS. Equities research analysts forecast that Varonis Systems will post -1.75 EPS for the current year.

Institutional investors have recently modified their holdings of the company. NumerixS Investment Technologies Inc raised its stake in shares of Varonis Systems by 257.1% in the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock valued at $133,000 after purchasing an additional 1,800 shares in the last quarter. Chartwell Investment Partners LLC grew its position in shares of Varonis Systems by 2.2% during the 4th quarter. Chartwell Investment Partners LLC now owns 70,163 shares of the technology company’s stock valued at $3,712,000 after buying an additional 1,481 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in shares of Varonis Systems by 166.4% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 227,818 shares of the technology company’s stock valued at $12,052,000 after buying an additional 142,304 shares during the last quarter. Hudson Bay Capital Management LP bought a new stake in shares of Varonis Systems during the 4th quarter valued at about $3,955,000. Finally, Insight Wealth Strategies LLC bought a new stake in shares of Varonis Systems during the 4th quarter valued at about $375,000. Institutional investors and hedge funds own 83.99% of the company’s stock.

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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