Barclays Issues Pessimistic Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS - Free Report) had its price target trimmed by Barclays from $60.00 to $52.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an overweight rating on the technology company's stock.

Several other equities analysts have also recently commented on VRNS. Wolfe Research raised shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a research report on Friday, March 28th. Piper Sandler lowered their target price on Varonis Systems from $55.00 to $50.00 and set a "neutral" rating for the company in a research note on Monday, January 6th. Cantor Fitzgerald began coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective for the company. Jefferies Financial Group cut their target price on shares of Varonis Systems from $50.00 to $45.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, five have given 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.com, the company currently has an average rating of "Moderate Buy" and an average price target of $57.11.

Varonis Systems Trading Down 1.1 %

VRNS traded down $0.44 during trading hours on Monday, reaching $40.39. The company's stock had a trading volume of 819,623 shares, compared to its average volume of 1,511,491. The stock has a market cap of $4.55 billion, a PE ratio of -46.96 and a beta of 0.76. Varonis Systems has a fifty-two week low of $36.53 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. The business's 50-day moving average is $41.42 and its 200-day moving average is $46.70.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released 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 return on equity of 20.35% and a negative net margin of 17.38%. As a group, equities research analysts predict that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has approved a share repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Quarry LP bought a new stake in Varonis Systems in the fourth quarter valued at $36,000. Johnson Financial Group Inc. acquired a new stake in shares of Varonis Systems in the fourth quarter valued at $61,000. Transce3nd LLC acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $62,000. New Age Alpha Advisors LLC bought a new stake in Varonis Systems during the fourth quarter worth approximately $70,000. Finally, NBC Securities Inc. grew its position in Varonis Systems by 100,200.0% in the first quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock worth $81,000 after buying an additional 2,004 shares during the last quarter. 95.65% of the stock is owned by institutional investors and hedge funds.

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.