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. “
A number of other analysts also recently issued reports on the stock. BidaskClub downgraded shares of Varonis Systems from a buy rating to a hold rating in a report on Friday, June 7th. DA Davidson lifted their price objective on shares of Varonis Systems to $78.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Jefferies Financial Group lifted their price objective on shares of Varonis Systems from $73.00 to $77.00 and gave the stock a buy rating in a report on Tuesday, April 30th. Stifel Nicolaus lifted their price objective on shares of Varonis Systems from $52.00 to $70.00 and gave the stock a hold rating in a report on Tuesday, April 30th. Finally, Morgan Stanley lifted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock an equal weight rating in a report on Tuesday, April 30th. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Varonis Systems presently has an average rating of Buy and an average target price of $71.52.
Shares of NASDAQ:VRNS opened at $61.23 on Friday. Varonis Systems has a one year low of $48.67 and a one year high of $82.00. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -62.48 and a beta of 1.12.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, April 29th. The technology company reported ($0.68) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.64) by ($0.04). Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. The firm had revenue of $56.40 million during the quarter, compared to the consensus estimate of $59.36 million. During the same period in the previous year, the business earned ($0.22) earnings per share. The firm’s revenue for the quarter was up 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Varonis Systems will post -1.75 earnings per share for the current year.
In related news, EVP David Bass sold 42,416 shares of Varonis Systems stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $72.54, for a total value of $3,076,856.64. Following the transaction, the executive vice president now owns 202,833 shares in the company, valued at approximately $14,713,505.82. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.80% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of VRNS. FMR LLC raised its position in Varonis Systems by 81.3% in the 1st quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock worth $82,793,000 after purchasing an additional 622,639 shares during the period. Soma Equity Partners LP purchased a new position in shares of Varonis Systems in the first quarter valued at about $35,778,000. Artisan Partners Limited Partnership purchased a new position in shares of Varonis Systems in the first quarter valued at about $19,220,000. Clearbridge Investments LLC increased its position in shares of Varonis Systems by 54.3% in the first quarter. Clearbridge Investments LLC now owns 883,113 shares of the technology company’s stock valued at $52,660,000 after acquiring an additional 310,737 shares during the period. Finally, Two Sigma Investments LP increased its position in shares of Varonis Systems by 521.8% in the fourth quarter. Two Sigma Investments LP now owns 236,808 shares of the technology company’s stock valued at $12,527,000 after acquiring an additional 198,721 shares during the period. Institutional investors own 89.57% 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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