Jefferies Financial Group Cuts Varonis Systems (NASDAQ:VRNS) Price Target to $45.00

Varonis Systems (NASDAQ:VRNS) had its target price decreased by Jefferies Financial Group from $50.00 to $45.00 in a research note released on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

A number of other brokerages also recently commented on VRNS. DA Davidson cut their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. StockNews.com upgraded shares of Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Cantor Fitzgerald initiated coverage on Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. Wells Fargo & Company decreased their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Finally, Piper Sandler cut their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.53.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $41.56 on Monday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The stock has a market cap of $4.68 billion, a P/E ratio of -48.33 and a beta of 0.76. The stock has a 50 day moving average of $42.48 and a two-hundred day moving average of $48.08. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. On average, research analysts forecast that Varonis Systems will post -0.83 earnings per share for the current year.

Varonis Systems announced that its Board of Directors has initiated a share repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VRNS. William Blair Investment Management LLC lifted its position in shares of Varonis Systems by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock worth $101,750,000 after purchasing an additional 52,971 shares during the last quarter. Barclays PLC raised its stake in Varonis Systems by 10.0% during the third quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock valued at $22,007,000 after buying an additional 35,274 shares in the last quarter. Advantage Alpha Capital Partners LP lifted its holdings in Varonis Systems by 30.1% during the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock worth $4,038,000 after buying an additional 21,040 shares during the last quarter. Citigroup Inc. grew its position in shares of Varonis Systems by 88.4% in the 3rd quarter. Citigroup Inc. now owns 105,429 shares of the technology company’s stock worth $5,957,000 after acquiring an additional 49,472 shares in the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.