Varonis Systems (NASDAQ:VRNS) Given New $40.00 Price Target at Jefferies Financial Group

Varonis Systems (NASDAQ:VRNSGet Rating) had its price objective cut by stock analysts at Jefferies Financial Group from $65.00 to $40.00 in a research report issued on Monday, The Fly reports. Jefferies Financial Group’s target price suggests a potential upside of 21.54% from the company’s current price.

VRNS has been the subject of several other reports. JMP Securities restated a “buy” rating and set a $73.00 price target on shares of Varonis Systems in a research note on Tuesday, February 8th. StockNews.com began coverage on Varonis Systems in a research report on Thursday, March 31st. They issued a “hold” rating for the company. UBS Group decreased their target price on Varonis Systems from $74.00 to $55.00 and set a “buy” rating for the company in a research report on Tuesday, February 8th. Wells Fargo & Company raised Varonis Systems from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $46.00 to $60.00 in a research report on Friday, April 29th. Finally, Barclays decreased their target price on Varonis Systems from $51.00 to $46.00 in a research report on Tuesday, May 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Varonis Systems currently has a consensus rating of “Buy” and an average price target of $58.31.

Varonis Systems stock opened at $32.91 on Monday. The firm has a market capitalization of $3.61 billion, a P/E ratio of -27.20 and a beta of 1.28. The stock has a fifty day moving average price of $42.27 and a 200 day moving average price of $44.54. Varonis Systems has a 52 week low of $27.97 and a 52 week high of $73.46. The company has a current ratio of 4.61, a quick ratio of 4.61 and a debt-to-equity ratio of 0.46.

Varonis Systems (NASDAQ:VRNSGet Rating) last released its earnings results on Monday, May 2nd. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.24. Varonis Systems had a negative return on equity of 19.97% and a negative net margin of 31.58%. During the same period last year, the company earned ($0.34) earnings per share. As a group, equities analysts predict that Varonis Systems will post -0.89 EPS for the current year.

In other news, Director Den Bosch Fred Van sold 1,000 shares of the stock in a transaction that occurred on Tuesday, April 19th. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the sale, the director now directly owns 115,945 shares in the company, valued at approximately $5,797,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ofer Segev sold 1,500 shares of the stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $45.38, for a total value of $68,070.00. Following the sale, the director now owns 71,802 shares in the company, valued at $3,258,374.76. The disclosure for this sale can be found here. Insiders have sold 5,500 shares of company stock worth $268,070 in the last 90 days. 1.90% of the stock is currently owned by insiders.

Several institutional investors have recently made changes to their positions in the company. William Blair Investment Management LLC increased its position in Varonis Systems by 27.9% in the 1st quarter. William Blair Investment Management LLC now owns 4,523,947 shares of the technology company’s stock valued at $215,068,000 after acquiring an additional 987,362 shares during the period. Macquarie Group Ltd. increased its position in Varonis Systems by 6.6% in the 3rd quarter. Macquarie Group Ltd. now owns 3,754,476 shares of the technology company’s stock valued at $228,460,000 after acquiring an additional 232,993 shares during the period. First Trust Advisors LP increased its position in Varonis Systems by 50.0% in the 4th quarter. First Trust Advisors LP now owns 3,550,829 shares of the technology company’s stock valued at $173,209,000 after acquiring an additional 1,184,082 shares during the period. Clearbridge Investments LLC increased its position in Varonis Systems by 11.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,468,690 shares of the technology company’s stock valued at $164,902,000 after acquiring an additional 360,921 shares during the period. Finally, State Street Corp increased its position in Varonis Systems by 3.0% in the 1st quarter. State Street Corp now owns 2,296,041 shares of the technology company’s stock valued at $109,154,000 after acquiring an additional 67,696 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.

About Varonis Systems (Get Rating)

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; strategic and product plans; and other intellectual property.

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