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

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

Other equities research analysts also recently issued reports about the company. Wells Fargo & Company lowered their price target on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Friday, March 28th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Citigroup cut their price objective on shares of 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 research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.53.

Varonis Systems Stock Performance

Shares of NASDAQ:VRNS opened at $41.30 on Friday. The business has a fifty day moving average of $41.51 and a 200-day moving average of $47.09. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. Varonis Systems has a twelve month low of $36.53 and a twelve month high of $60.58. The firm has a market cap of $4.65 billion, a PE ratio of -48.02 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results 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 return on equity of 20.35% and a negative net margin of 17.38%. On average, equities research analysts predict that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has approved a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding 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 usually a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Varonis Systems

A number of large investors have recently bought and sold shares of VRNS. Quarry LP acquired a new position in Varonis Systems during the fourth quarter valued at approximately $36,000. Johnson Financial Group Inc. acquired a new position in shares of Varonis Systems during the 4th quarter worth $61,000. Transce3nd LLC acquired a new position in shares of Varonis Systems during the 4th quarter worth $62,000. New Age Alpha Advisors LLC bought a new stake in shares of Varonis Systems during the 4th quarter worth $70,000. Finally, NBC Securities Inc. boosted its stake 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 valued at $81,000 after buying an additional 2,004 shares in the last quarter. 95.65% of the stock is currently 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.