Varonis Systems (NASDAQ:VRNS) Lowered to "Sell" Rating by StockNews.com

Varonis Systems (NASDAQ:VRNS - Get Free Report) was downgraded by investment analysts at StockNews.com from a "hold" rating to a "sell" rating in a research note issued on Friday.

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

Varonis Systems Stock Down 1.3 %

Shares of Varonis Systems stock traded down $0.58 during midday trading on Friday, reaching $42.40. 399,103 shares of the company's stock traded hands, compared to its average volume of 1,379,502. The company has a market cap of $4.77 billion, a price-to-earnings ratio of -49.24 and a beta of 0.83. Varonis Systems has a 52 week low of $39.62 and a 52 week high of $60.58. The company's 50 day simple moving average is $44.19 and its 200 day simple moving average is $50.28. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted 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%. Equities analysts expect that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

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

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its position in shares of Varonis Systems by 445.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company's stock worth $29,000 after buying an additional 423 shares during the period. Quarry LP bought a new position in shares of Varonis Systems during the fourth quarter valued at $36,000. Johnson Financial Group Inc. acquired a new stake in shares of Varonis Systems in the 4th quarter valued at $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems in the 4th quarter worth about $62,000. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Varonis Systems during the fourth quarter worth approximately $70,000. 95.65% of the stock is owned by institutional investors and hedge funds.

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.