Varonis Systems (NASDAQ:VRNS) Stock Rating Lowered by ValuEngine

Varonis Systems (NASDAQ:VRNS) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report released on Thursday, ValuEngine reports.

Other analysts have also issued research reports about the company. Wedbush increased their price objective on Varonis Systems from $85.00 to $90.00 and gave the company an “outperform” rating in a report on Tuesday, July 30th. Craig Hallum increased their price objective on Varonis Systems from $62.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, July 30th. BidaskClub lowered Varonis Systems from a “hold” rating to a “sell” rating in a report on Saturday, September 14th. Zacks Investment Research upgraded Varonis Systems from a “sell” rating to a “hold” rating in a report on Friday, June 28th. Finally, Barclays decreased their price objective on Varonis Systems from $81.00 to $68.00 and set an “equal weight” rating for the company in a report on Monday, October 7th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $74.92.

Varonis Systems stock opened at $63.42 on Thursday. The business has a fifty day moving average of $64.21 and a two-hundred day moving average of $65.13. The firm has a market cap of $1.92 billion, a P/E ratio of -64.71 and a beta of 0.85. Varonis Systems has a twelve month low of $48.67 and a twelve month high of $80.00.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, July 29th. The technology company reported ($0.79) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.63) by ($0.16). The company had revenue of $59.62 million for the quarter, compared to analysts’ expectations of $62.37 million. Varonis Systems had a negative return on equity of 40.22% and a negative net margin of 17.73%. Research analysts anticipate that Varonis Systems will post -2.32 earnings per share for the current year.

In other news, SVP James O’boyle sold 15,000 shares of the stock in a transaction on 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 completion of the sale, the senior vice president now owns 101,379 shares in the company, valued at approximately $7,836,596.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ohad Korkus sold 6,861 shares of the company’s stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $80.00, for a total value of $548,880.00. Following the completion of the transaction, the director now directly owns 29,013 shares in the company, valued at $2,321,040. The disclosure for this sale can be found here. Corporate insiders own 2.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC increased its position in shares of Varonis Systems by 905.9% in the 2nd quarter. SG Americas Securities LLC now owns 28,760 shares of the technology company’s stock valued at $1,781,000 after acquiring an additional 25,901 shares during the period. Soma Equity Partners LP increased its position in shares of Varonis Systems by 75.0% in the 2nd quarter. Soma Equity Partners LP now owns 1,050,000 shares of the technology company’s stock valued at $65,037,000 after acquiring an additional 450,000 shares during the period. Allianz Asset Management GmbH increased its position in shares of Varonis Systems by 21.1% in the 2nd quarter. Allianz Asset Management GmbH now owns 192,825 shares of the technology company’s stock valued at $11,944,000 after acquiring an additional 33,628 shares during the period. Atalan Capital Partners LP increased its position in shares of Varonis Systems by 19.3% in the 2nd quarter. Atalan Capital Partners LP now owns 525,000 shares of the technology company’s stock valued at $32,519,000 after acquiring an additional 85,000 shares during the period. Finally, Mirador Capital Partners LP increased its position in shares of Varonis Systems by 41.1% in the 2nd quarter. Mirador Capital Partners LP now owns 10,424 shares of the technology company’s stock valued at $646,000 after acquiring an additional 3,034 shares during the period. 93.61% 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.

Further Reading: Net Margin

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Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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