Varonis Systems (VRNS) Upgraded to “Outperform” by Wedbush

Wedbush upgraded shares of Varonis Systems (NASDAQ:VRNS) from a neutral rating to an outperform rating in a report published on Tuesday, April 30th, Benzinga reports. The brokerage currently has $85.00 target price on the technology company’s stock.

Several other research firms have also commented on VRNS. BidaskClub lowered Varonis Systems from a buy rating to a hold rating in a research note on Friday, April 19th. UBS Group reduced their price objective on Varonis Systems from $80.00 to $68.00 and set an outperform rating for the company in a research note on Tuesday, February 12th. JMP Securities lowered Varonis Systems from an outperform rating to a market perform rating in a research note on Tuesday, February 12th. Jefferies Financial Group restated a buy rating and issued a $73.00 price objective (down from $81.00) on shares of Varonis Systems in a research note on Tuesday, February 12th. Finally, DA Davidson upped their price objective on Varonis Systems to $70.00 and gave the stock a buy rating in a research note on Monday, March 18th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $71.52.

NASDAQ:VRNS opened at $70.23 on Tuesday. The firm has a market capitalization of $2.12 billion, a PE ratio of -71.66 and a beta of 1.02. Varonis Systems has a one year low of $48.67 and a one year high of $83.10.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, April 29th. The technology company reported ($0.68) EPS for the quarter, missing the consensus estimate of ($0.64) by ($0.04). The company had revenue of $56.40 million during the quarter, compared to analysts’ expectations of $59.36 million. Varonis Systems had a negative return on equity of 30.00% and a negative net margin of 13.24%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.22) earnings per share. As a group, research analysts anticipate that Varonis Systems will post -1.75 earnings per share for the current fiscal year.

In other Varonis Systems news, EVP David Bass sold 42,416 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $72.54, for a total value of $3,076,856.64. Following the completion of the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.80% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Mondrian Capital Management LLC purchased a new stake in Varonis Systems in the 4th quarter worth $53,000. Psagot Investment House Ltd. grew its position in shares of Varonis Systems by 32.0% during the fourth quarter. Psagot Investment House Ltd. now owns 1,061 shares of the technology company’s stock valued at $56,000 after purchasing an additional 257 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new position in shares of Varonis Systems during the first quarter valued at about $83,000. Cresset Asset Management LLC purchased a new position in shares of Varonis Systems during the first quarter valued at about $115,000. Finally, NumerixS Investment Technologies Inc grew its position in shares of Varonis Systems by 257.1% during the fourth 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. Institutional investors and hedge funds own 83.99% 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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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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