Barclays Lowers Varonis Systems (NASDAQ:VRNS) Price Target to $52.00

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

Other equities research analysts have also issued research reports about the company. Morgan Stanley began coverage on Varonis Systems in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. Wolfe Research upgraded Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Friday, March 28th. StockNews.com cut Varonis Systems from a “hold” rating to a “sell” rating in a research report on Friday, April 11th. Wells Fargo & Company decreased their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Finally, Needham & Company LLC restated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average price target of $57.11.

Varonis Systems Trading Down 2.0 %

NASDAQ VRNS opened at $40.83 on Monday. 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 stock has a market capitalization of $4.60 billion, a P/E ratio of -47.48 and a beta of 0.76. Varonis Systems has a 52-week low of $36.53 and a 52-week high of $60.58. The firm has a 50-day moving average price of $41.51 and a 200 day moving average price of $46.91.

Varonis Systems (NASDAQ:VRNS) last posted 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 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 year.

Varonis Systems announced that its board has initiated a stock repurchase program on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Hedge Funds Weigh In On Varonis Systems

Several large investors have recently modified their holdings of VRNS. Wealth Enhancement Advisory Services LLC raised its stake in Varonis Systems by 43.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,681 shares of the technology company’s stock worth $270,000 after acquiring an additional 2,031 shares during the period. Pallas Capital Advisors LLC acquired a new stake in shares of Varonis Systems in the first quarter valued at approximately $255,000. NBC Securities Inc. boosted its position in shares of Varonis Systems by 100,200.0% during the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock worth $81,000 after buying an additional 2,004 shares during the period. Rhumbline Advisers increased its position in Varonis Systems by 5.7% in the 1st quarter. Rhumbline Advisers now owns 173,984 shares of the technology company’s stock valued at $7,038,000 after acquiring an additional 9,404 shares during the period. Finally, Kopion Asset Management LLC boosted its position in Varonis Systems by 28.6% during the 1st quarter. Kopion Asset Management LLC now owns 207,992 shares of the technology company’s stock worth $8,413,000 after acquiring an additional 46,196 shares during the period. 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.