Varonis Systems (NASDAQ:VRNS) Shares Gap Up to $25.39

Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) shares gapped up prior to trading on Tuesday . The stock had previously closed at $25.39, but opened at $26.99. Varonis Systems shares last traded at $27.42, with a volume of 10,085 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wolfe Research lowered Varonis Systems from an “outperform” rating to a “peer perform” rating in a report on Monday, July 25th. Royal Bank of Canada lowered their target price on Varonis Systems from $55.00 to $35.00 and set a “maintains” rating on the stock in a report on Monday. Wedbush lowered their target price on Varonis Systems from $60.00 to $52.00 and set an “outperform” rating on the stock in a report on Tuesday, May 3rd. Morgan Stanley decreased their price objective on Varonis Systems from $35.00 to $32.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, UBS Group decreased their price objective on Varonis Systems from $51.00 to $46.00 and set a “buy” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Varonis Systems Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 4.61 and a current ratio of 4.61. The firm has a market cap of $3.29 billion, a P/E ratio of -24.43 and a beta of 1.17. The company has a 50-day moving average of $30.41 and a 200 day moving average of $37.04.

Varonis Systems (NASDAQ:VRNSGet Rating) last issued its quarterly earnings data on Monday, May 2nd. The technology company reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.33) by ($0.10). Varonis Systems had a negative net margin of 30.67% and a negative return on equity of 21.73%. The business had revenue of $96.26 million during the quarter, compared to the consensus estimate of $96.00 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. On average, sell-side analysts anticipate that Varonis Systems, Inc. will post -0.9 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Avrohom J. Kess acquired 2,400 shares of the business’s stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $29.95 per share, for a total transaction of $71,880.00. Following the transaction, the director now owns 8,810 shares in the company, valued at approximately $263,859.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Avrohom J. Kess bought 2,400 shares of the company’s stock in a transaction dated Monday, May 9th. The stock was bought at an average price of $29.95 per share, for a total transaction of $71,880.00. Following the completion of the transaction, the director now directly owns 8,810 shares in the company, valued at approximately $263,859.50. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $33.07, for a total value of $294,554.49. Following the sale, the vice president now owns 161,722 shares of the company’s stock, valued at approximately $5,348,146.54. The disclosure for this sale can be found here. Corporate insiders own 1.90% of the company’s stock.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors have recently made changes to their positions in the stock. William Blair Investment Management LLC grew its stake in shares of Varonis Systems by 27.9% during the first quarter. William Blair Investment Management LLC now owns 4,523,947 shares of the technology company’s stock worth $215,068,000 after purchasing an additional 987,362 shares during the period. First Trust Advisors LP grew its stake in Varonis Systems by 50.0% in the fourth quarter. First Trust Advisors LP now owns 3,550,829 shares of the technology company’s stock valued at $173,209,000 after acquiring an additional 1,184,082 shares during the period. Clearbridge Investments LLC grew its stake in Varonis Systems by 11.6% in the first quarter. Clearbridge Investments LLC now owns 3,468,690 shares of the technology company’s stock valued at $164,902,000 after acquiring an additional 360,921 shares during the period. State Street Corp grew its stake in Varonis Systems by 3.0% in the first quarter. State Street Corp now owns 2,296,041 shares of the technology company’s stock valued at $109,154,000 after acquiring an additional 67,696 shares during the period. Finally, Geode Capital Management LLC grew its stake in Varonis Systems by 2.7% in the fourth quarter. Geode Capital Management LLC now owns 1,847,632 shares of the technology company’s stock valued at $90,127,000 after acquiring an additional 48,529 shares during the period. 93.20% of the stock is owned by institutional investors and hedge funds.

About Varonis Systems

(Get Rating)

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; strategic and product plans; and other intellectual property.

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