Worth Watching: Could Varonis Systems Inc Skyrocket Even More? The Stock Just Made 52-Week High

Worth Watching: Could Varonis Systems Inc Skyrocket Even More? The Stock Just Made 52 Week High

The stock of Varonis Systems Inc (NASDAQ:VRNS) hit a new 52-week high and has $37.15 target or 27.00% above today’s $29.25 share price. The 6 months bullish chart indicates low risk for the $765.14M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $37.15 price target is reached, the company will be worth $206.59 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.08 million shares traded hands or 1095.91% up from the average. Varonis Systems Inc (NASDAQ:VRNS) has risen 61.53% since April 5, 2016 and is uptrending. It has outperformed by 59.58% the S&P500.

Varonis Systems Inc (NASDAQ:VRNS) Ratings Coverage

Out of 10 analysts covering Varonis Systems (NASDAQ:VRNS), 7 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 70% are positive. Varonis Systems has been the topic of 15 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The rating was upgraded by Needham on Wednesday, August 10 to “Buy”. The firm has “Buy” rating given on Wednesday, December 16 by Lake Street. The rating was maintained by Imperial Capital on Monday, May 16 with “Outperform”. The rating was maintained by JMP Securities on Wednesday, August 10 with “Market Outperform”. Jefferies maintained Varonis Systems Inc (NASDAQ:VRNS) on Wednesday, August 10 with “Buy” rating. Barclays Capital maintained it with “Equal-Weight” rating and $20 target price in Thursday, March 17 report. The stock of Varonis Systems Inc (NASDAQ:VRNS) earned “Equal Weight” rating by Barclays Capital on Friday, July 15. On Tuesday, September 29 the stock rating was initiated by Stifel Nicolaus with “Hold”. The firm earned “Outperform” rating on Friday, August 12 by Imperial Capital. The stock has “Buy” rating given by Brean Capital on Tuesday, January 12.

According to Zacks Investment Research, “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.”

Insitutional Activity: The institutional sentiment increased to 2.15 in Q2 2016. Its up 0.61, from 1.54 in 2016Q1. The ratio improved, as 5 funds sold all Varonis Systems Inc shares owned while 21 reduced positions. 25 funds bought stakes while 31 increased positions. They now own 10.22 million shares or 5.88% less from 10.86 million shares in 2016Q1.
Blackrock Inv Mgmt Ltd has 41,227 shares for 0% of their US portfolio. Goldman Sachs Gru Inc has invested 0% of its portfolio in Varonis Systems Inc (NASDAQ:VRNS). Pnc Ser last reported 495 shares in the company. Blackrock holds 0% or 895 shares in its portfolio. Swiss Natl Bank owns 21,118 shares or 0% of their US portfolio. Deere & Co has 0.02% invested in the company for 18,885 shares. State Street Corp accumulated 0% or 156,783 shares. Art Advsrs Limited Liability Co holds 0.01% or 9,491 shares in its portfolio. Blackrock Group Inc Inc owns 4,173 shares or 0% of their US portfolio. Northern Trust, a Illinois-based fund reported 130,922 shares. Menta Capital reported 25,615 shares or 0.08% of all its holdings. First Manhattan Company has 0% invested in the company for 200 shares. Strs Ohio has 0% invested in the company for 21,100 shares. J Goldman Limited Partnership holds 0.21% of its portfolio in Varonis Systems Inc (NASDAQ:VRNS) for 168,779 shares. Pdt Ltd Com holds 0.04% of its portfolio in Varonis Systems Inc (NASDAQ:VRNS) for 19,300 shares.

Insider Transactions: Since May 9, 2016, the stock had 0 insider purchases, and 33 insider sales for $24.06 million net activity. 12,000 shares were sold by Pitango Venture Capital Fund IV – L.P., worth $360,556. Another trade for 12,441 shares valued at $344,392 was sold by EVERGREEN IV L.P.. 34,387 shares with value of $972,908 were sold by Faitelson Yakov on Friday, August 19. The insider Korkus Ohad sold 175,631 shares worth $4.77M. 8,000 shares were sold by O’Boyle James, worth $231,200. On Thursday, July 28 the insider Iohan Gili sold $130,000. Another trade for 2,350 shares valued at $48,546 was sold by MENDOZA THOMAS F.

VRNS Company Profile

Varonis Systems, Inc. (Varonis), incorporated on November 3, 2004, provides a software platform that allows enterprises to analyze, secure, manage and utilize their unstructured data. The Firm specializes in human-generated data, a type of unstructured data that includes an enterprise’s spreadsheets, word processing documents, presentations, audio files, video files, e-mails, text messages and any other data created by employees. The Company’s Metadata Framework is a technology platform that extracts metadata from an enterprise’s information technology (IT) infrastructure and uses this information to map functional relationships among employees, data objects, content and usage. IT and business personnel deploy its software for a range of use cases, including data governance, data security, archiving, file synchronization, mobile data accessibility and information collaboration. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit (IDU) Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. The Company’s subsidiaries include Varonis Systems Ltd. (VSL), Varonis UK (VSUK), Varonis Systems (Deutschland) GmbH (VSG), Varonis France SAS (VSF) and Varonis Systems Corp. (VSC).

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