Barclays Sticks to Their Hold Rating for Varonis Systems

By Ryan Adsit

In a report released today, Saket Kalia from Barclays maintained a Hold rating on Varonis Systems (NASDAQ: VRNS), with a price target of $58. The company’s shares closed yesterday at $53.90, close to its 52-week high of $55.85.

According to TipRanks.com, Kalia is a 4-star analyst with an average return of 9.8% and a 52.3% success rate. Kalia covers the Technology sector, focusing on stocks such as Nuance Communications, SecureWorks Corp, and Carbonite Inc.

Varonis Systems has an analyst consensus of Strong Buy, with a price target consensus of $58.71.

Based on Varonis Systems’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $73.21 million and quarterly net profit of $5.53 million. In comparison, last year the company earned revenue of $54.41 million and had a net profit of $3.52 million.

Based on the recent corporate insider activity of 87 insiders, corporate insider sentiment is neutral on the stock.

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Varonis Systems, Inc. provides innovative software platform that allows enterprises to map, analyze, manage and migrate their unstructured data. It operates through the following segments: United States, EMEA, and Rest of the World.