Varonis Systems (NASDAQ:VRNS) Given New $45.00 Price Target at Jefferies Financial Group

Varonis Systems (NASDAQ:VRNS) had its price target decreased by Jefferies Financial Group from $50.00 to $45.00 in a report published on Monday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

Several other analysts also recently commented on VRNS. Morgan Stanley initiated coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Citigroup cut their target price on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Needham & Company LLC reiterated a “buy” rating and set a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Piper Sandler reduced their target price on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Finally, Cantor Fitzgerald initiated coverage on Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.53.

Varonis Systems Stock Performance

Shares of VRNS opened at $40.45 on Monday. The firm has a market capitalization of $4.55 billion, a PE ratio of -47.03 and a beta of 0.85. 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 firm has a 50-day moving average price of $42.64 and a 200 day moving average price of $48.22. Varonis Systems has a 52-week low of $39.11 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share 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, sell-side analysts anticipate that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

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

Hedge Funds Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently modified their holdings of VRNS. Tower Research Capital LLC TRC raised its position in shares of Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock worth $193,000 after acquiring an additional 298 shares in the last quarter. Teza Capital Management LLC increased its holdings in Varonis Systems by 3.1% in the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock worth $437,000 after purchasing an additional 299 shares in the last quarter. Virtue Capital Management LLC lifted its stake in Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after buying an additional 364 shares during the period. Summit Investment Advisors Inc. grew 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 buying an additional 365 shares during the period. Finally, Bailard Inc. increased its stake in shares of Varonis Systems by 0.4% in the 4th 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 in the last quarter. 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.