Varonis Systems (NASDAQ:VRNS) Price Target Cut to $52.00 by Analysts at Barclays

Varonis Systems (NASDAQ:VRNS) had its price target cut by Barclays from $60.00 to $52.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the technology company’s stock.

VRNS has been the topic of several other reports. StockNews.com cut Varonis Systems from a “hold” rating to a “sell” rating in a research note on Friday. Needham & Company LLC reissued a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. Wells Fargo & Company decreased their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 5th. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Finally, Morgan Stanley initiated coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.76.

Varonis Systems Price Performance

VRNS stock opened at $41.66 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The company’s 50-day moving average is $41.48 and its 200-day moving average is $46.99. The stock has a market capitalization of $4.69 billion, a PE ratio of -48.44 and a beta of 0.76. Varonis Systems has a 1 year low of $36.53 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data 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 net margin of 17.38% and a negative return on equity of 20.35%. Equities research analysts expect that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems announced that its board has initiated a stock buyback 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Varonis Systems

Large investors have recently modified their holdings of the business. William Blair Investment Management LLC grew its stake in Varonis Systems by 2.4% in the 4th quarter. William Blair Investment Management LLC now owns 2,290,114 shares of the technology company’s stock worth $101,750,000 after buying an additional 52,971 shares in the last quarter. Barclays PLC lifted its holdings in shares of Varonis Systems by 10.0% during the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company’s stock worth $22,007,000 after acquiring an additional 35,274 shares during the last quarter. Advantage Alpha Capital Partners LP grew its position in Varonis Systems by 30.1% in the fourth quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company’s stock worth $4,038,000 after acquiring an additional 21,040 shares in the last quarter. Principal Financial Group Inc. increased its stake in Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock valued at $100,789,000 after acquiring an additional 147,081 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Varonis Systems by 761.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,125,960 shares of the technology company’s stock valued at $50,026,000 after purchasing an additional 995,274 shares in the last quarter. Institutional investors own 95.65% of the company’s stock.

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.