Wedbush Thinks Varonis Systems’ Stock is Going to Recover


In a report released yesterday, Daniel Ives from Wedbush maintained a Buy rating on Varonis Systems (VRNS), with a price target of $105.00. The company’s shares closed last Tuesday at $55.18, close to its 52-week low of $48.96.

According to TipRanks.com, Ives is a 4-star analyst with an average return of 2.2% and a 52.3% success rate. Ives covers the Technology sector, focusing on stocks such as Nuance Communications, Slack Technologies, and Uber Technologies.

Varonis Systems has an analyst consensus of Strong Buy, with a price target consensus of $82.42, representing a 39.9% upside. In a report issued on March 25, Morgan Stanley also maintained a Buy rating on the stock with a $70.00 price target.

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Based on Varonis Systems’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $72.56 million and GAAP net loss of $14.65 million. In comparison, last year the company earned revenue of $87.52 million and had a net profit of $6.47 million.

Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of VRNS in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Varonis Systems, Inc. engages in providing data security and analytics. It operates through the following segments: United States, EMEA, and Rest of the World. Its products includes datadvantage, data classification engine, data transport engine, Varonis edge, datanswers, datalert, dataprivilege, automation engine, and GDPR patterns. The company was founded by Yaki Faitelson and Ohad Korkus on November 3, 2004 and is headquartered in New York, NY.

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