StockNews.com Downgrades Varonis Systems (NASDAQ:VRNS) to Sell

StockNews.com lowered shares of Varonis Systems (NASDAQ:VRNS) from a hold rating to a sell rating in a report released on Friday.

A number of other research analysts have also recently commented on VRNS. Cantor Fitzgerald assumed coverage on Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Citigroup cut their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Piper Sandler cut their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Finally, Jefferies Financial Group dropped their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Trading Up 1.1 %

Shares of NASDAQ VRNS opened at $42.97 on Friday. The business’s 50 day moving average is $44.19 and its two-hundred day moving average is $50.34. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems has a 1-year low of $39.62 and a 1-year high of $60.58. The stock has a market capitalization of $4.84 billion, a P/E ratio of -49.96 and a beta of 0.83.

Varonis Systems (NASDAQ:VRNS) last released 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%. As a group, research analysts expect that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has approved a stock repurchase plan on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Varonis Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Varonis Systems in the 4th quarter valued at $6,848,000. Virtue Capital Management LLC increased its position in shares of Varonis Systems by 6.5% in the 4th quarter. Virtue Capital Management LLC now owns 17,320 shares of the technology company’s stock valued at $770,000 after acquiring an additional 1,056 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. increased its position in shares of Varonis Systems by 0.3% in the 4th quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 395,820 shares of the technology company’s stock valued at $17,586,000 after acquiring an additional 1,073 shares during the period. Vident Advisory LLC increased its position in shares of Varonis Systems by 23.9% in the 4th quarter. Vident Advisory LLC now owns 85,870 shares of the technology company’s stock valued at $3,815,000 after acquiring an additional 16,539 shares during the period. Finally, Squarepoint Ops LLC increased its position in shares of Varonis Systems by 45.0% in the 4th quarter. Squarepoint Ops LLC now owns 928,390 shares of the technology company’s stock valued at $41,248,000 after acquiring an additional 288,336 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.