Benchmark Upgrades Varonis Systems (NASDAQ:VRNS) to Buy

Benchmark upgraded shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a buy rating in a research note issued to investors on Tuesday, July 30th, BenzingaRatingsTable reports.

Several other equities analysts also recently commented on the company. Jefferies Financial Group upped their price objective on Varonis Systems from $73.00 to $77.00 and gave the company a buy rating in a research note on Tuesday, April 30th. Zacks Investment Research upgraded Varonis Systems from a sell rating to a hold rating in a research note on Friday, June 28th. DA Davidson increased their target price on Varonis Systems to $78.00 and gave the stock a buy rating in a research report on Tuesday, April 30th. BidaskClub upgraded Varonis Systems from a buy rating to a strong-buy rating in a research report on Saturday, July 27th. Finally, Morgan Stanley increased their target price on Varonis Systems from $55.00 to $65.00 and gave the stock an equal weight rating in a research report on Tuesday, April 30th. Six equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $74.00.

Shares of NASDAQ VRNS traded up $0.23 during midday trading on Tuesday, reaching $70.51. The company’s stock had a trading volume of 147,300 shares, compared to its average volume of 394,538. Varonis Systems has a 12-month low of $48.67 and a 12-month high of $80.00. The firm has a 50 day moving average price of $68.42 and a 200-day moving average price of $63.73. The stock has a market capitalization of $2.11 billion, a P/E ratio of -71.95 and a beta of 0.92.

In other news, SVP James O’boyle sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the transaction, the senior vice president now directly owns 101,379 shares of the company’s stock, valued at $7,836,596.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ohad Korkus sold 6,861 shares of the stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $80.00, for a total transaction of $548,880.00. Following the sale, the director now owns 29,013 shares of the company’s stock, valued at $2,321,040. The disclosure for this sale can be found here. 2.80% of the stock is owned by corporate insiders.

Several institutional investors have recently bought and sold shares of the company. Delek Group Ltd. lifted its holdings in Varonis Systems by 1.6% in the second quarter. Delek Group Ltd. now owns 14,742 shares of the technology company’s stock worth $892,000 after buying an additional 238 shares during the period. United Services Automobile Association lifted its holdings in Varonis Systems by 7.4% in the second quarter. United Services Automobile Association now owns 4,555 shares of the technology company’s stock worth $282,000 after buying an additional 312 shares during the period. Bank of Montreal Can increased its stake in shares of Varonis Systems by 1.1% during the second quarter. Bank of Montreal Can now owns 27,762 shares of the technology company’s stock valued at $1,720,000 after purchasing an additional 314 shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Varonis Systems by 103.9% during the second quarter. Captrust Financial Advisors now owns 736 shares of the technology company’s stock valued at $46,000 after purchasing an additional 375 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Varonis Systems by 5.2% during the second quarter. Van ECK Associates Corp now owns 10,014 shares of the technology company’s stock valued at $620,000 after purchasing an additional 493 shares in the last quarter. Institutional investors own 90.34% 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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