Varonis Systems (NASDAQ:VRNS) had its price target raised by equities researchers at Needham & Company LLC from $52.00 to $65.00 in a note issued to investors on Friday, MarketBeat.com reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target indicates a potential upside of 19.82% from the stock’s previous close.

Other analysts have also recently issued research reports about the stock. Benchmark reissued a “buy” rating and issued a $60.00 price objective on shares of Varonis Systems in a research note on Friday, December 1st. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Oppenheimer assumed coverage on shares of Varonis Systems in a research note on Wednesday, December 6th. They issued an “outperform” rating and a $57.00 price objective on the stock. Zacks Investment Research cut shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Finally, Stephens reissued a “buy” rating and issued a $58.00 price objective on shares of Varonis Systems in a research note on Friday, January 12th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Varonis Systems has a consensus rating of “Buy” and an average target price of $52.27.

Shares of Varonis Systems (NASDAQ:VRNS) opened at $54.25 on Friday. Varonis Systems has a one year low of $25.20 and a one year high of $55.17.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The company had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $50.53 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. Varonis Systems’s revenue for the quarter was up 31.1% on a year-over-year basis. equities research analysts anticipate that Varonis Systems will post -0.53 earnings per share for the current year.

In related news, CFO Guy Melamed sold 605 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $43.65, for a total value of $26,408.25. Following the transaction, the chief financial officer now owns 95,491 shares in the company, valued at $4,168,182.15. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Ohad Korkus sold 9,277 shares of the business’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $51.28, for a total transaction of $475,724.56. Following the completion of the transaction, the chief technology officer now owns 84,510 shares in the company, valued at approximately $4,333,672.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 287,384 shares of company stock worth $14,505,934. 19.50% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in VRNS. Schwab Charles Investment Management Inc. lifted its holdings in Varonis Systems by 31.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 67,046 shares of the technology company’s stock valued at $2,495,000 after buying an additional 15,899 shares during the period. Rhumbline Advisers lifted its holdings in Varonis Systems by 80.4% in the second quarter. Rhumbline Advisers now owns 20,938 shares of the technology company’s stock valued at $779,000 after buying an additional 9,330 shares during the period. Bank of New York Mellon Corp lifted its holdings in Varonis Systems by 54.8% in the second quarter. Bank of New York Mellon Corp now owns 352,958 shares of the technology company’s stock valued at $13,129,000 after buying an additional 125,001 shares during the period. Legal & General Group Plc lifted its holdings in Varonis Systems by 39.6% in the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after buying an additional 1,223 shares during the period. Finally, Swiss National Bank lifted its holdings in Varonis Systems by 16.6% in the second quarter. Swiss National Bank now owns 24,618 shares of the technology company’s stock valued at $916,000 after buying an additional 3,500 shares during the period. Institutional investors and hedge funds own 84.46% of the company’s stock.

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Varonis Systems Company Profile

Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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