Jefferies Financial Group Lowers Varonis Systems (NASDAQ:VRNS) Price Target to $45.00

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price objective lowered by Jefferies Financial Group from $50.00 to $45.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a "hold" rating on the technology company's stock. Jefferies Financial Group's price target suggests a potential upside of 17.31% from the stock's previous close.

VRNS has been the topic of several other research reports. Cantor Fitzgerald started coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 price target on the stock. Wolfe Research upgraded Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target on the stock in a research note on Friday, March 28th. Citigroup lowered their price objective on Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a research note 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. Finally, StockNews.com raised shares of Varonis Systems from a "sell" rating to a "hold" rating in a research report on Saturday, March 8th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $58.53.

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Varonis Systems Stock Down 5.2 %

NASDAQ VRNS traded down $2.12 during trading hours on Monday, hitting $38.36. The company had a trading volume of 2,294,460 shares, compared to its average volume of 1,480,660. The firm's 50 day moving average is $42.41 and its 200 day moving average is $48.03. The company has a debt-to-equity ratio of 0.99, a current ratio of 1.24 and a quick ratio of 1.24. Varonis Systems has a fifty-two week low of $36.68 and a fifty-two week high of $60.58. The company has a market capitalization of $4.32 billion, a price-to-earnings ratio of -44.60 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced 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%. 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 of Directors has initiated a stock repurchase program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to reacquire up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC boosted its holdings 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 valued at $101,750,000 after acquiring an additional 52,971 shares during the period. Barclays PLC boosted its stake in Varonis Systems by 10.0% during the 3rd quarter. Barclays PLC now owns 389,522 shares of the technology company's stock valued at $22,007,000 after purchasing an additional 35,274 shares during the period. Advantage Alpha Capital Partners LP grew its position in Varonis Systems by 30.1% in the 4th quarter. Advantage Alpha Capital Partners LP now owns 90,881 shares of the technology company's stock worth $4,038,000 after purchasing an additional 21,040 shares during the last quarter. Citigroup Inc. increased its stake in shares of Varonis Systems by 88.4% in the third quarter. Citigroup Inc. now owns 105,429 shares of the technology company's stock valued at $5,957,000 after purchasing an additional 49,472 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Varonis Systems by 9.0% during the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after buying an additional 147,081 shares during the last quarter. 95.65% of the stock is currently 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.