Research Analysts’ Recent Ratings Changes for Varonis Systems (VRNS)

Varonis Systems (NASDAQ: VRNS) recently received a number of ratings updates from brokerages and research firms:

  • 8/7/2019 – Varonis Systems was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 8/1/2019 – Varonis Systems was upgraded by analysts at ValuEngine from a “buy” rating to a “strong-buy” rating.
  • 7/30/2019 – Varonis Systems had its price target raised by analysts at Wedbush from $85.00 to $90.00. They now have an “outperform” rating on the stock.
  • 7/30/2019 – Varonis Systems had its price target raised by analysts at Craig Hallum from $62.00 to $70.00. They now have a “hold” rating on the stock.
  • 7/30/2019 – Varonis Systems had its price target raised by analysts at Barclays PLC from $71.00 to $81.00. They now have an “equal weight” rating on the stock.
  • 7/30/2019 – Varonis Systems was upgraded by analysts at Benchmark Co. from a “hold” rating to a “buy” rating.
  • 7/30/2019 – Varonis Systems had its “buy” rating reaffirmed by analysts at Robert W. Baird. They wrote, “We maintain our Outperform rating and increase our price target to $80. Varonis reported a significant acceleration in subscription mix in 2Q19 to 56% of license revenue from guidance of 25%. While this contributed to weak reported results, a faster-than-anticipated shift to subscription and greater adoption of the Varonis platform validates the new pricing model, drives a broader value proposition to customers and increases value to shareholders long term.””
  • 7/27/2019 – Varonis Systems was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/17/2019 – Varonis Systems was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/28/2019 – Varonis Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “
  • 6/21/2019 – Varonis Systems was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “
  • 6/15/2019 – Varonis Systems had its “sell” rating reaffirmed by analysts at Zacks Investment Research. According to Zacks, “Varonis Systems Inc. provides an innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. Its products include DatAdvantage, DataPrivilege, IDU Classification Framework, Data Transport Engine and DatAnywhere. The company sells its products to small and medium businesses, and large multinational enterprises in financial services, consumer and retail, industrial, healthcare, and energy and utilities industries. Varonis Systems Inc. is headquartered in New York. “

Varonis Systems stock traded down $0.72 during midday trading on Wednesday, reaching $69.54. 69,850 shares of the stock traded hands, compared to its average volume of 402,745. The business has a 50-day simple moving average of $66.92. Varonis Systems Inc has a 12-month low of $48.67 and a 12-month high of $80.00. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -70.95 and a beta of 0.92.

In other news, Director Ohad Korkus sold 6,861 shares of Varonis Systems stock in a transaction dated Tuesday, July 30th. The stock was 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 owns 29,013 shares in the company, valued at approximately $2,321,040. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David Bass sold 42,416 shares of Varonis Systems stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $72.54, for a total value of $3,076,856.64. Following the completion of the transaction, the executive vice president now owns 202,833 shares of the company’s stock, valued at approximately $14,713,505.82. The disclosure for this sale can be found here. Insiders have sold a total of 64,277 shares of company stock valued at $4,785,237 over the last 90 days. 2.80% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors boosted its stake in shares of Varonis Systems by 103.9% in the 2nd quarter. Captrust Financial Advisors now owns 736 shares of the technology company’s stock valued at $46,000 after buying an additional 375 shares during the period. Meeder Asset Management Inc. purchased a new stake in Varonis Systems during the second quarter worth approximately $48,000. Wealthcare Advisory Partners LLC purchased a new stake in Varonis Systems during the first quarter worth approximately $83,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Varonis Systems during the first quarter worth approximately $131,000. Finally, Aperio Group LLC purchased a new stake in Varonis Systems during the second quarter worth approximately $192,000. Institutional investors and hedge funds own 88.74% of the company’s stock.

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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