On Jan. 07, Bass David divested U.S. $937,046 in shares of Varonis Systems Inc.. The EVP Engineering, CTO sold 5,500 shares at a price per share of $170.37. The transaction decreased this specific insider’s holdings to 163,775 shares worth around $28.4 million at present.
Barclays took its Varonis Systems Inc. [VRNS] rating to the equivalent of an Equal weight from an Overweight, and the price target to $150, in a research note dated December 17, 2020. That figure represents around a -15.61% premium from where the company’s shares closed on Friday. Other analysts also revised their coverage, with Barclays’s analysts downgrading the shares from “an Overweight” rating to “an Equal weight” rating in a research note to investors issued in mid December. Meanwhile, Craig Hallum had raised its rating on VRNS to “Buy” from the earlier “Hold”, in a research note produced for clients October 27, 2020. In addition, there was no change from The Benchmark Company on October 27, 2020. The rater maintained VRNS to “a Buy” but assigned new target price of $145.
Is Varonis Systems Inc. [NASDAQ:VRNS] a Good Buy Right Now?
It should be noted that VRNS technical indicators for short, intermediate as well as long term progress have placed an overall average of 100% as Buy. The average signal changed from 100% Buy in the last week and compares with 88% Buy in the past month. Data from Varonis Systems Inc.’s Trend Spotter indicated that the signals were Strengthening. The stock current average is 0.41 million shares in the past 20 days and the short term average signal indicates a 100% Buy. In the last 50 days, the average trading volume was 0.36 million shares while the medium term average advocated for 100% Buy. The average long-term signal stands at 100% Buy and the 100-day average volume stands at 0.32 million shares.
VRNS Price Performance
On Wall Street, Varonis Systems Inc. [NASDAQ:VRNS] finished Friday’s session up 1.30% at $173.41. The stock went up to $175.91 at the same session while its lowest single day price was $171.105. In the last five days, it saw a rise of about 5.99%, Varonis Systems Inc. shares gained by almost 5.99% since the beginning of the year. However, the share price has dropped to as low as -3.66% below its one year high. On 01/08/21, the company shares recorded $175.91, the highest single-day price it has got to in the last 52-weeks and a 52-week low was seen on 01/04/21, the same year at $155.46. The company’s shares have inclined by 115.95% in the past year. The 50-day SMA achieved is $136.30 while the 200-day SMA is $106.57. Volume dropped to 0.19 million from 0.33 million in the previous session.
VRNS Stock Support And Resistance Levels
On the 24-hour scale, the immediate backing is perceived around 171.04 level, and in case of violation of this particular level, it will cause more drop to 168.67 level. On the upper level, 178.28 is still the key resistance. The stock may increase to the subsequent resistance at 175.85. The Relative Strength Index (RSI) pinned on the 14-day chart is 73.47, implying a overbought technical stance while the MACD stands at 2.40, meaning price will increase in the next trading period. Percent R indicator moved to 21.60%, implying bullish price movement. Stochastic %K at 72.01% suggest holding the stock.
What is the short interest in Varonis Systems Inc.?
Short interest in the Varonis Systems Inc. stock has plunged, decreasing by 50000.0 shares to total 2.06 million shares on Dec 14, 2020. The interest had seen shares on Nov 12, 2020 stand at 2.01 million, data from Yahoo Finance shows. The increase of 2.43% suggests the stock saw some increased bearish sentiment. The stock’s days to cover (short ratio) moved to while the shorted shares account for just 6.63% of the overall float for the stock.
Varonis Systems Inc.’s Biggest Shareholders: Who Owns Varonis Systems Inc. [VRNS]?
Filings by The Vanguard Group, Inc. showed that the firm now holds a total of 2,689,495 shares or roughly 8.48% of the outstanding VRNS shares. This means their shares have reduced by -107,607 from the 2,689,495 the investor reportedly held in its prior 13-F filing. With the conclusion of the sale, Cadian Capital Management LP updated stake is worth $278,751,267. Details in the latest 13F filings reveal that BlackRock Fund Advisors disposed off their -3.53% stake valued at $242,993,691 while Jackson Square Partners LLC cut theirs at $221,060,977. During the last quarter, BlackRock Fund Advisors liquidated -73,722 of its shares in Varonis Systems Inc. while Jackson Square Partners LLC sold -46,097 shares. The William Blair Investment Manageme’s holdings currently number 1,287,406 shares at $223249074.46. According to the firm’s last 13F report, Victory Capital Management, Inc. shares in the company at filing stood at 1,029,025 shares, roughly $124,141,576.
VRNS Earnings Forecast For The Current Quarter
Varonis Systems Inc. [VRNS] is expected to report strong earnings results for the quarter ending on Dec 2020. Consensus estimates give the company expected revenues of $84.36M and an earnings per share of $0.12 for Dec 2020. Looking further ahead, the company is expected to report revenue of $65.34M at an EPS of -$0.32 for Mar 2021. The estimates represent upside of 20.00% and 93.70% in the company’s revenue and earnings per share, respectively, on a year-on-year basis.
VRNS Earnings Estimates For The Current Year
For the financial year, Varonis Systems Inc. [NASDAQ:VRNS] is expected to bring in revenue of $282.12M. The returns are nearly $27.93 million higher than the company’s actual revenue recorded in the fiscal year 2019. In terms of EPS for the 2020, estimate put it at -0.48, higher than that of FY19 by $0.44. Estimates put this year’s earnings growth at 47.80%, 93.70% for the next, and at an annual 48.80% over the next 5-year period. As for sales, forecasts are for an increase of 11.00% in the current fiscal year and a further 20.00% over the following year.
What are analyst thoughts on Varonis Systems Inc.?
Looking forward to the Varonis Systems Inc. share price prediction, we can see that analysts, surveyed by FactSet, offer the mean price target for Varonis Systems Inc. stock at $150.00 within the next 12 months, which represents almost -15.61 per cent growth from its previous closing price of $173.41. The highest analysts’ target for Varonis Systems Inc. stock projections is $200.00 and the lowest one is $116.00. Still, 18 analysts sharing their consensus rating for VRNS stock in 2021 agree that it is a Buy.