Jefferies Financial Group Cuts Varonis Systems (NASDAQ:VRNS) Price Target to $50.00

Varonis Systems (NASDAQ:VRNS) had its price target cut by Jefferies Financial Group from $60.00 to $50.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a hold rating on the technology company’s stock.

Other analysts have also recently issued reports about the company. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. UBS Group lifted their price objective on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their target price on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 28th. Robert W. Baird raised their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Finally, DA Davidson cut their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating, eleven 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 an average rating of “Moderate Buy” and an average price target of $59.19.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $45.30 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81. Varonis Systems has a one year low of $41.13 and a one year high of $60.58. The business’s 50 day simple moving average is $51.95 and its two-hundred day simple moving average is $51.48. The stock has a market capitalization of $5.09 billion, a P/E ratio of -60.40 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The company had revenue of $148.07 million for the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm’s revenue for the quarter was up 21.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.22) earnings per share. Analysts forecast that Varonis Systems will post -0.73 EPS for the current year.

Insider Buying and Selling at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 10.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. This trade represents a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. EFG Asset Management North America Corp. raised its holdings in Varonis Systems by 0.5% in the 2nd quarter. EFG Asset Management North America Corp. now owns 45,469 shares of the technology company’s stock worth $2,181,000 after acquiring an additional 216 shares during the last quarter. O Neil Global Advisors Inc. increased its holdings in shares of Varonis Systems by 4.8% in the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after purchasing an additional 220 shares in the last quarter. Hanseatic Management Services Inc. raised its stake in shares of Varonis Systems by 1.7% in the second quarter. Hanseatic Management Services Inc. now owns 16,051 shares of the technology company’s stock worth $770,000 after purchasing an additional 275 shares during the last quarter. Virtue Capital Management LLC lifted its holdings in shares of Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after purchasing an additional 364 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in shares of Varonis Systems by 5.6% during the second quarter. Xponance Inc. now owns 6,975 shares of the technology company’s stock valued at $335,000 after purchasing an additional 367 shares in the last quarter. Institutional investors 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.