Robert W. Baird Keeps a Buy Rating on Varonis Systems (VRNS)

By Ryan Adsit

Robert W. Baird analyst Jonathan Ruykhaver maintained a Buy rating on Varonis Systems (VRNSResearch Report) today and set a price target of $60. The company’s shares closed yesterday at $63.96.

Ruykhaver noted:

“We maintain our Outperform rating but reduce our price target to $60 on lower near-term growth and higher execution risk. While FQ4 demonstrated continued solid fundamentals supported by growing deal sizes, a financial model shift to subscription from license will weigh on growth, profitability and cash flow in FY19. While customer growth has lagged, we think growth in ASP highlights the strong value proposition and unique technology differentiation. Over time, we believe this shift should drive easier and more economical consumption, and greater customer lifetime value.”

According to, Ruykhaver is a top 100 analyst with an average return of 25.8% and a 80.9% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Forescout Technologies Inc, Proofpoint Inc, and Symantec Corp.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Varonis Systems with a $67.25 average price target, representing a 5.1% upside. In a report issued on January 29, Craig-Hallum also upgraded the stock to Buy with a $68 price target.

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Based on Varonis Systems’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $7.32 million. In comparison, last year the company had a net profit of $5.53 million.

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Varonis Systems, Inc. engages in the provision of 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.