Varonis Systems (NASDAQ:VRNS) Upgraded at StockNews.com

StockNews.com upgraded shares of Varonis Systems (NASDAQ:VRNS) from a sell rating to a hold rating in a research report released on Saturday.

A number of other equities research analysts also recently weighed in on the company. DA Davidson dropped their target price 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. Piper Sandler reduced their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Citigroup decreased their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a report on Wednesday, February 5th. Finally, Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Stock Down 1.8 %

Shares of NASDAQ VRNS opened at $40.01 on Friday. Varonis Systems has a 52-week low of $39.62 and a 52-week high of $60.58. The stock has a market cap of $4.50 billion, a PE ratio of -46.52 and a beta of 0.85. The business has a fifty day moving average of $43.73 and a two-hundred day moving average of $49.65. 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 (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (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%. As a group, equities research analysts expect that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its Board of Directors has initiated a stock repurchase 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 generally a sign that the company’s board of directors believes its stock is undervalued.

Hedge Funds Weigh In On Varonis Systems

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC grew its position in shares of Varonis Systems by 7.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after purchasing an additional 298 shares during the last quarter. Teza Capital Management LLC lifted its position in shares of Varonis Systems by 3.1% during the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock valued at $437,000 after acquiring an additional 299 shares during the period. Virtue Capital Management LLC lifted its position in Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after purchasing an additional 364 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Varonis Systems by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock worth $512,000 after acquiring an additional 365 shares in the last quarter. Finally, Bailard Inc. increased its stake in Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock valued at $4,160,000 after acquiring an additional 417 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

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.