Varonis Systems (NASDAQ:VRNS) Upgraded by BidaskClub to “Strong-Buy”

BidaskClub upgraded shares of Varonis Systems (NASDAQ:VRNS) from a buy rating to a strong-buy rating in a research note issued to investors on Thursday, BidAskClub reports.

Other research analysts also recently issued research reports about the stock. Zacks Investment Research raised shares of Varonis Systems from a sell rating to a hold rating in a research report on Friday, June 28th. Morgan Stanley lifted their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the company an equal weight rating in a research report on Tuesday, April 30th. Craig Hallum lifted their price objective on shares of Varonis Systems from $62.00 to $70.00 and gave the company a hold rating in a research report on Tuesday, July 30th. Jefferies Financial Group lifted their price objective on shares of Varonis Systems from $73.00 to $77.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Finally, DA Davidson lifted their price objective on shares of Varonis Systems to $78.00 and gave the company a buy rating in a research report on Tuesday, April 30th. Six analysts have rated the stock with a hold rating, ten have issued a buy rating and two have given a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $74.00.

Varonis Systems stock opened at $69.03 on Thursday. The company has a market cap of $2.07 billion, a P/E ratio of -70.44 and a beta of 0.92. Varonis Systems has a 1-year low of $48.67 and a 1-year high of $80.00. The company has a fifty day simple moving average of $67.53 and a 200 day simple moving average of $63.51.



In other news, SVP James O’boyle sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $77.30, for a total transaction of $1,159,500.00. Following the completion of the sale, the senior vice president now owns 101,379 shares in the company, valued at approximately $7,836,596.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ohad Korkus sold 6,861 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $80.00, for a total transaction of $548,880.00. Following the sale, the director now owns 29,013 shares of the company’s stock, valued at approximately $2,321,040. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of VRNS. FMR LLC lifted its stake in shares of Varonis Systems by 81.3% during the 1st quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock worth $82,793,000 after buying an additional 622,639 shares during the last quarter. Soma Equity Partners LP acquired a new stake in shares of Varonis Systems during the 1st quarter worth about $35,778,000. Cadian Capital Management LP lifted its stake in shares of Varonis Systems by 97.1% during the 2nd quarter. Cadian Capital Management LP now owns 989,553 shares of the technology company’s stock worth $61,293,000 after buying an additional 487,453 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of Varonis Systems by 4,936.0% during the 2nd quarter. Holocene Advisors LP now owns 460,488 shares of the technology company’s stock worth $28,523,000 after buying an additional 451,344 shares during the last quarter. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Varonis Systems during the 1st quarter worth about $19,220,000. Institutional investors own 88.74% of the company’s stock.

Varonis Systems Company Profile

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.

Further Reading: Outstanding Shares

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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