Varonis Systems (VRNS) Price Target Increased to $78.00 by Analysts at DA Davidson

Varonis Systems (NASDAQ:VRNS) had its target price lifted by DA Davidson to $78.00 in a research note released on Tuesday, April 30th, The Fly reports. They currently have a buy rating on the technology company’s stock. DA Davidson also issued estimates for Varonis Systems’ Q2 2019 earnings at ($0.66) EPS, Q3 2019 earnings at ($0.33) EPS, Q4 2019 earnings at ($0.22) EPS, FY2019 earnings at ($1.83) EPS, Q1 2020 earnings at ($0.47) EPS, Q2 2020 earnings at ($0.52) EPS, Q4 2020 earnings at ($0.23) EPS and FY2020 earnings at ($1.48) EPS.

A number of other brokerages have also recently weighed in on VRNS. Stifel Nicolaus lifted their price target on shares of Varonis Systems from $52.00 to $70.00 and gave the company a hold rating in a research report on Tuesday, April 30th. Jefferies Financial Group lifted their price target on shares of Varonis Systems from $73.00 to $77.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Morgan Stanley lifted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Wedbush raised shares of Varonis Systems from a neutral rating to an outperform rating and set a $85.00 target price on the stock in a research report on Tuesday, April 30th. Finally, UBS Group boosted their target price on shares of Varonis Systems from $68.00 to $80.00 and gave the stock an outperform rating in a research report on Tuesday, April 30th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Varonis Systems currently has an average rating of Buy and an average price target of $71.52.

Shares of VRNS stock opened at $70.23 on Tuesday. The company has a market cap of $2.12 billion, a price-to-earnings ratio of -71.66 and a beta of 1.02. Varonis Systems has a fifty-two week low of $48.67 and a fifty-two week high of $83.10.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period last year, the firm earned ($0.22) earnings per share. Equities research analysts predict that Varonis Systems will post -1.75 EPS for the current year.

In other news, EVP David Bass sold 42,416 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the transaction, the executive vice president now directly owns 202,833 shares of the company’s stock, valued at $14,713,505.82. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Psagot Investment House Ltd. raised its holdings in Varonis Systems by 32.0% in the fourth quarter. Psagot Investment House Ltd. now owns 1,061 shares of the technology company’s stock valued at $56,000 after acquiring an additional 257 shares in the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in Varonis Systems in the first quarter valued at $83,000. Cresset Asset Management LLC acquired a new stake in Varonis Systems in the first quarter valued at $115,000. NumerixS Investment Technologies Inc raised its holdings in Varonis Systems by 257.1% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Northeast Financial Consultants Inc acquired a new stake in Varonis Systems in the first quarter valued at $209,000. 83.99% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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