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

Varonis Systems (NASDAQ:VRNS) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued on Friday.

Several other research firms have also issued reports on VRNS. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research report on Friday, March 28th. Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price on the stock. Jefferies Financial Group lowered their price target on Varonis Systems from $50.00 to $45.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. DA Davidson reduced their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Finally, Citigroup lowered their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $58.53.

Varonis Systems Stock Up 0.4 %

VRNS stock opened at $41.30 on Friday. Varonis Systems has a 52 week low of $36.53 and a 52 week high of $60.58. 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 company has a market capitalization of $4.65 billion, a price-to-earnings ratio of -48.02 and a beta of 0.76. The firm’s 50-day moving average is $41.51 and its two-hundred day moving average is $47.16.

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

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

Institutional Trading of Varonis Systems

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in Varonis Systems during the 4th quarter valued at about $36,000. Johnson Financial Group Inc. acquired a new stake in Varonis Systems during the 4th quarter worth approximately $61,000. Transce3nd LLC bought a new stake in Varonis Systems in the 4th quarter valued at $62,000. New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems in the fourth quarter valued at about $70,000. Finally, NBC Securities Inc. lifted its position in shares of 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 purchasing an additional 2,004 shares in the last quarter. Institutional investors and hedge funds 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.