Stephens Believes Varonis Systems (NASDAQ: VRNS) Won’t Stop Here

By Austin Angelo

Stephens analyst Jonathan Ruykhaver reiterated a Buy rating on Varonis Systems (NASDAQ: VRNS) yesterday and set a price target of $60. The company’s shares closed yesterday at $54.15, close to its 52-week high of $55.85.

According to TipRanks.com, Ruykhaver is a 5-star analyst with an average return of 20.0% and a 80.0% success rate. Ruykhaver covers the Technology sector, focusing on stocks such as Barracuda Networks, Netscout Systems, and Zix Corporation.

Currently, the analyst consensus on Varonis Systems is Strong Buy and the average price target is $61.14, representing a 12.9% upside.

In a report issued on February 12, Jefferies also maintained a Buy rating on the stock with a $62 price target.

The company has a one-year high of $55.85 and a one-year low of $26.35. Currently, Varonis Systems has an average volume of 280.1K.

Based on the recent corporate insider activity of 85 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.