Brokerages Set Varonis Systems Inc (NASDAQ:VRNS) Price Target at $75.09

Shares of Varonis Systems Inc (NASDAQ:VRNS) have been assigned a consensus rating of “Buy” from the seventeen research firms that are presently covering the stock, Marketbeat.com reports. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $75.09.

Several equities analysts have issued reports on the company. Benchmark raised Varonis Systems from a “hold” rating to a “buy” rating in a report on Tuesday, July 30th. Jefferies Financial Group raised their price objective on Varonis Systems from $88.00 to $92.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Zacks Investment Research raised Varonis Systems from a “sell” rating to a “hold” rating in a report on Sunday, November 3rd. Craig Hallum raised their price objective on Varonis Systems from $75.00 to $82.00 in a report on Tuesday, October 29th. Finally, ValuEngine lowered Varonis Systems from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 30th.

Hedge funds have recently modified their holdings of the business. SG Americas Securities LLC grew its holdings in shares of Varonis Systems by 905.9% during the second quarter. SG Americas Securities LLC now owns 28,760 shares of the technology company’s stock worth $1,781,000 after buying an additional 25,901 shares during the last quarter. BBVA USA Bancshares Inc. purchased a new position in shares of Varonis Systems during the third quarter worth about $472,000. Soma Equity Partners LP grew its holdings in shares of Varonis Systems by 75.0% during the second quarter. Soma Equity Partners LP now owns 1,050,000 shares of the technology company’s stock worth $65,037,000 after buying an additional 450,000 shares during the last quarter. Mirador Capital Partners LP grew its holdings in shares of Varonis Systems by 14.8% during the third quarter. Mirador Capital Partners LP now owns 11,963 shares of the technology company’s stock worth $715,000 after buying an additional 1,539 shares during the last quarter. Finally, Congress Asset Management Co. MA grew its holdings in shares of Varonis Systems by 1.7% during the third quarter. Congress Asset Management Co. MA now owns 111,422 shares of the technology company’s stock worth $6,661,000 after buying an additional 1,819 shares during the last quarter. 92.94% of the stock is currently owned by institutional investors.

NASDAQ:VRNS traded up $0.49 during trading hours on Thursday, hitting $75.49. The company’s stock had a trading volume of 188,000 shares, compared to its average volume of 360,514. The stock has a market capitalization of $2.29 billion, a P/E ratio of -77.03 and a beta of 0.90. The stock has a fifty day moving average of $66.70 and a 200-day moving average of $66.33. Varonis Systems has a 52-week low of $48.67 and a 52-week high of $80.00.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, October 28th. The technology company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.34) by $0.18. The firm had revenue of $65.65 million for the quarter, compared to analyst estimates of $61.61 million. Varonis Systems had a negative return on equity of 49.47% and a negative net margin of 21.42%. Varonis Systems’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.06 earnings per share. As a group, analysts predict that Varonis Systems will post -2.45 earnings per share for the current year.

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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