Varonis Systems (NASDAQ:VRNS) Rating Lowered to “Sell” at StockNews.com

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

Several other brokerages have also recently weighed in on VRNS. Morgan Stanley started coverage on shares of Varonis Systems in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. Needham & Company LLC restated a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Wednesday, February 5th. Piper Sandler cut their price objective 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, Citigroup decreased their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $58.53.

Varonis Systems Trading Up 0.4 %

Shares of VRNS stock opened at $41.30 on Friday. Varonis Systems has a twelve month low of $36.53 and a twelve month high of $60.58. The stock’s fifty day simple moving average is $41.51 and its 200 day simple moving average is $47.09. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The firm has a market capitalization of $4.65 billion, a P/E ratio of -48.02 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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, sell-side analysts predict that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has initiated a stock repurchase plan on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Institutional Trading of Varonis Systems

A number of hedge funds have recently bought and sold shares of the business. Quarry LP purchased a new stake in shares of Varonis Systems during the 4th quarter valued at $36,000. Johnson Financial Group Inc. bought a new position in Varonis Systems during the fourth quarter valued at about $61,000. Transce3nd LLC bought a new position in Varonis Systems during the fourth quarter valued at about $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems during the fourth quarter worth about $70,000. Finally, NBC Securities Inc. raised its position in Varonis Systems by 100,200.0% in the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock worth $81,000 after acquiring an additional 2,004 shares during the period. 95.65% of the stock is currently owned by institutional investors.

Varonis Systems Company Profile

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.