An analyst sees good growth prospects for Varonis Systems Inc. (VRNS)

Varonis Systems Inc. (NASDAQ: VRNS) stock jumped 7.94% on Friday to $30.05 against a previous-day closing price of $27.84. With 2.49 million shares changed hands, the volume of the stock remained heavier than its average volume of 1.34 million shares. During the session, the Software – Infrastructure company that operates in wider Technology sector, reached to the highest price of $30.25 whereas the lowest price it dropped to was $28.20. The 52-week range on VRNS shows that it touched its highest point at $73.46 and its lowest point at $24.58 during that stretch. It currently has a 1-year price target of $49.94. Beta for the stock currently stands at 1.21.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of VRNS was up-trending over the past week, with a rise of 15.98%, but this was down by -5.56% over a month. Three-month performance dropped to -21.64% while six-month performance fell -21.64%. The stock lost -49.07% in the past year, while it has lost -38.40% so far this year. A look at the trailing 12-month EPS for VRNS yields -1.21 with Next year EPS estimates of 0.35. For the next quarter, that number is -0.01. This implies an EPS growth rate of -11.40% for this year and 103.49% for next year. EPS is expected to grow by 48.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -44.00%.

Float and Shares Shorts:

At present, 108.20 million VRNS shares are outstanding with a float of 107.71 million shares on hand for trading. On Jul 14, 2022, short shares totaled 3.35 million, which was 3.05% higher than short shares on Jun 14, 2022. In addition to Mr. Yakov Faitelson as the firm’s Co-Founder, Chairman, CEO & Pres, Mr. Ohad Korkus serves as its Co-Founder & Independent Director.

Institutional Ownership:

Through their ownership of 100.00% of VRNS’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 63.04% of VRNS, in contrast to 36.43% held by mutual funds. Shares owned by individuals account for 10.66%. As the largest shareholder in VRNS with 11.08% of the stake, Wellington Management Co. LLP holds 12,134,990 shares worth 12,134,990. A second-largest stockholder of VRNS, The Vanguard Group, Inc., holds 9,730,248 shares, controlling over 8.88% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in VRNS, holding 7,685,269 shares or 7.01% stake. With a 3.11% stake in VRNS, the First Trust NASDAQ Cybersecurity is the largest stakeholder. A total of 3,403,044 shares are owned by the mutual fund manager. The Vanguard Total Stock Market Index, which owns about 2.94% of VRNS stock, is the second-largest Mutual Fund holder. It holds 3,222,749 shares valued at 94.49 million. Vanguard Small Cap Index Fund holds 2.53% of the stake in VRNS, owning 2,769,946 shares worth 81.21 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for VRNS since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.

Summary of Insider Activity:

Insiders traded VRNS stock several times over the past three months with 12 Buys and 3 Sells. In these transactions, 126,061 shares were bought while 10,407 shares were sold. The number of buy transactions has increased to 29 while that of sell transactions has risen to 27 over the past year. The total number of shares bought during that period was 1,159,874 while 607,197 shares were sold.

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