Jefferies Financial Group Has Lowered Expectations for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS) had its price objective reduced by Jefferies Financial Group from $50.00 to $45.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price objective points to a potential upside of 10.02% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Citigroup dropped their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Morgan Stanley started coverage on Varonis Systems in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Cantor Fitzgerald initiated coverage on Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 target price on the stock. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Piper Sandler reduced their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.53.

Varonis Systems Stock Up 1.1 %

VRNS stock opened at $40.90 on Monday. Varonis Systems has a one year low of $39.11 and a one year high of $60.58. The stock has a market capitalization of $4.60 billion, a P/E ratio of -47.56 and a beta of 0.85. The company has a 50 day moving average price of $42.55 and a two-hundred day moving average price of $48.13. 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 released its 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%. As a group, sell-side analysts expect that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems declared that its board has authorized a share repurchase plan on Monday, February 10th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.

Institutional Trading of Varonis Systems

Large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in Varonis Systems by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 12,246,769 shares of the technology company’s stock valued at $544,124,000 after purchasing an additional 193,210 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Varonis Systems by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock valued at $147,801,000 after purchasing an additional 29,050 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Varonis Systems by 4.8% during the 4th quarter. First Trust Advisors LP now owns 2,501,581 shares of the technology company’s stock valued at $111,145,000 after buying an additional 113,573 shares during the last quarter. William Blair Investment Management LLC grew its position in shares of Varonis Systems by 2.4% during the fourth 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. Finally, Pictet Asset Management Holding SA increased its stake in shares of Varonis Systems by 1.3% in the fourth quarter. Pictet Asset Management Holding SA now owns 2,287,544 shares of the technology company’s stock worth $101,636,000 after buying an additional 29,852 shares during the last quarter. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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.