Varonis Systems (NASDAQ:VRNS) Hits New 52-Week High on Analyst Upgrade

Varonis Systems, Inc. (NASDAQ:VRNSGet Free Report) shares hit a new 52-week high on Wednesday after TheStreet upgraded the stock from a d+ rating to a c- rating. The company traded as high as $38.45 and last traded at $38.26, with a volume of 88248 shares trading hands. The stock had previously closed at $37.93.

Several other research firms have also recently commented on VRNS. Barclays raised Varonis Systems from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $35.00 to $37.00 in a research note on Friday, October 13th. William Blair reaffirmed an “outperform” rating on shares of Varonis Systems in a report on Tuesday, October 31st. Craig Hallum raised Varonis Systems from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Tuesday, August 1st. Royal Bank of Canada increased their price target on shares of Varonis Systems from $30.00 to $35.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $63.00 price objective on shares of Varonis Systems in a report on Wednesday, August 2nd. Eight investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $36.31.

View Our Latest Analysis on Varonis Systems

Insider Activity at Varonis Systems

In other Varonis Systems news, EVP David Bass sold 34,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $29.51, for a total value of $1,003,340.00. Following the sale, the executive vice president now owns 650,756 shares of the company’s stock, valued at $19,203,809.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently bought and sold shares of VRNS. Raymond James & Associates boosted its stake in shares of Varonis Systems by 24.7% during the first quarter. Raymond James & Associates now owns 41,783 shares of the technology company’s stock valued at $1,986,000 after acquiring an additional 8,272 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Varonis Systems by 3.9% in the 1st quarter. Bank of New York Mellon Corp now owns 495,160 shares of the technology company’s stock valued at $23,540,000 after purchasing an additional 18,813 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Varonis Systems by 91.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,096 shares of the technology company’s stock worth $99,000 after purchasing an additional 1,003 shares during the last quarter. MetLife Investment Management LLC grew its holdings in shares of Varonis Systems by 56.9% during the first quarter. MetLife Investment Management LLC now owns 56,965 shares of the technology company’s stock worth $2,708,000 after buying an additional 20,660 shares in the last quarter. Finally, Rhumbline Advisers raised its position in shares of Varonis Systems by 0.7% in the first quarter. Rhumbline Advisers now owns 112,981 shares of the technology company’s stock valued at $5,371,000 after buying an additional 811 shares during the last quarter. Hedge funds and other institutional investors own 92.47% of the company’s stock.

Varonis Systems Trading Up 1.1 %

The company has a debt-to-equity ratio of 0.56, a current ratio of 2.57 and a quick ratio of 2.57. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of -37.55 and a beta of 0.78. The business’s 50-day moving average price is $31.97 and its two-hundred day moving average price is $28.82.

About Varonis Systems

(Get Free Report)

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.

See Also

Receive News & Ratings for Varonis Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varonis Systems and related companies with MarketBeat.com's FREE daily email newsletter.