Varonis Systems (NASDAQ:VRNS) Stock Rating Lowered by StockNews.com

Varonis Systems (NASDAQ:VRNS) was downgraded by research analysts at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

VRNS has been the subject of a number of other research reports. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. DA Davidson lowered their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. Piper Sandler lowered their price target on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, January 6th. Citigroup reduced their price objective on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, Wells Fargo & Company reduced their price objective on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $59.38.

Varonis Systems Stock Performance

NASDAQ VRNS opened at $42.97 on Friday. The firm has a market cap of $4.84 billion, a price-to-earnings ratio of -49.96 and a beta of 0.83. The company has a 50 day moving average of $44.19 and a 200-day moving average of $50.31. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a 1-year low of $39.62 and a 1-year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates 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 analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Varonis Systems announced that its board has approved a stock repurchase plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to purchase up to 2.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors have recently added to or reduced their stakes in VRNS. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after acquiring an additional 423 shares in the last quarter. Quarry LP bought a new stake in Varonis Systems in the 4th quarter valued at $36,000. Johnson Financial Group Inc. bought a new stake in Varonis Systems in the 4th quarter valued at $61,000. Transce3nd LLC bought a new stake in Varonis Systems in the 4th quarter valued at $62,000. Finally, New Age Alpha Advisors LLC bought a new stake in Varonis Systems in the 4th quarter valued at $70,000. 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.