Varonis Systems Inc (NASDAQ:VRNS) had its target price lifted by stock analysts at Imperial Capital from $35.00 to $39.00 in a note issued to investors on Monday, May 8th. The brokerage presently has an “outperform” rating on the technology company’s stock. Imperial Capital’s price objective would indicate a potential upside of 8.48% from the stock’s current price.
A number of other analysts have also weighed in on VRNS. Royal Bank of Canada upped their target price on shares of Varonis Systems from $37.00 to $39.00 and gave the stock an “outperform” rating in a report on Thursday, February 9th. Jefferies Group LLC upped their target price on shares of Varonis Systems from $36.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Stifel Nicolaus upped their target price on shares of Varonis Systems from $36.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, May 5th. Barclays PLC reaffirmed a “hold” rating and set a $37.00 target price on shares of Varonis Systems in a report on Sunday, May 7th. Finally, Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a report on Tuesday, April 18th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Varonis Systems currently has an average rating of “Buy” and a consensus target price of $37.55.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.23) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.07. The company had revenue of $40.40 million for the quarter, compared to analysts’ expectations of $37.45 million. Varonis Systems had a negative net margin of 10.77% and a negative return on equity of 22.63%. Varonis Systems’s revenue was up 32.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.29) EPS.
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In other Varonis Systems news, insider Ohad Korkus sold 3,800 shares of the stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $32.00, for a total transaction of $121,600.00. Following the completion of the sale, the insider now owns 708,017 shares of the company’s stock, valued at approximately $22,656,544. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yakov Faitelson sold 49,273 shares of the stock in a transaction on Monday, March 27th. The shares were sold at an average price of $31.00, for a total transaction of $1,527,463.00. Following the sale, the chief executive officer now directly owns 794,376 shares of the company’s stock, valued at approximately $24,625,656. The disclosure for this sale can be found here. Insiders sold a total of 672,591 shares of company stock valued at $21,500,166 in the last ninety days. 31.40% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of VRNS. Penserra Capital Management LLC boosted its stake in Varonis Systems by 14,598.8% in the first quarter. Penserra Capital Management LLC now owns 559,142 shares of the technology company’s stock valued at $17,780,000 after buying an additional 555,338 shares in the last quarter. First Trust Advisors LP bought a new stake in Varonis Systems during the first quarter valued at approximately $6,936,000. G2 Investment Partners Management LLC boosted its stake in Varonis Systems by 228.1% in the third quarter. G2 Investment Partners Management LLC now owns 285,250 shares of the technology company’s stock valued at $8,586,000 after buying an additional 198,310 shares in the last quarter. Emerald Advisers Inc. PA boosted its stake in Varonis Systems by 35.1% in the first quarter. Emerald Advisers Inc. PA now owns 724,245 shares of the technology company’s stock valued at $23,031,000 after buying an additional 188,249 shares in the last quarter. Finally, Driehaus Capital Management LLC bought a new stake in Varonis Systems during the first quarter valued at approximately $5,694,000. 47.22% of the stock is owned by hedge funds and other institutional investors.
About Varonis Systems
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.
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