Varonis Systems (NASDAQ:VRNS) Rating Increased to Hold at StockNews.com

Varonis Systems (NASDAQ:VRNS) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Saturday.

VRNS has been the topic of a number of other research reports. Jefferies Financial Group decreased their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Needham & Company LLC reiterated a “buy” rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. DA Davidson reduced their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Thursday, December 12th. Citigroup lowered their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. Finally, Piper Sandler reduced their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $59.38.

Varonis Systems Stock Performance

VRNS opened at $40.74 on Friday. 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 cap of $4.59 billion, a price-to-earnings ratio of -47.37 and a beta of 0.83. Varonis Systems has a 12-month low of $39.62 and a 12-month high of $60.58. The business has a 50 day moving average of $43.81 and a 200-day moving average of $49.86.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results 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%. On average, equities research analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Varonis Systems declared that its Board of Directors has approved a stock buyback program on Monday, February 10th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VRNS. Tower Research Capital LLC TRC boosted its position in 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 buying an additional 298 shares in the last quarter. Teza Capital Management LLC lifted its stake in shares of Varonis Systems by 3.1% in 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 last quarter. Virtue Capital Management LLC boosted its holdings in shares of Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after acquiring an additional 364 shares in the last quarter. Summit Investment Advisors Inc. grew its position in 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 during the last quarter. Finally, Bailard Inc. increased its holdings in Varonis Systems by 0.4% in the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after purchasing an additional 417 shares in 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.