Jefferies Financial Group Has Lowered Expectations for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS - Get Free Report) had its price target lowered by equities researchers at Jefferies Financial Group from $60.00 to $50.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a "hold" rating on the technology company's stock. Jefferies Financial Group's target price indicates a potential upside of 10.99% from the stock's current price.

A number of other brokerages also recently issued reports on VRNS. Robert W. Baird upped their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 23rd. DA Davidson reduced their target price on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Thursday, December 12th. Barclays raised their price target on Varonis Systems from $60.00 to $65.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Wedbush restated an "outperform" rating and set a $67.00 price target on shares of Varonis Systems in a research note on Monday, August 26th. Finally, Piper Sandler increased their price objective on shares of Varonis Systems from $48.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $59.19.

Varonis Systems Stock Down 1.0 %

Shares of NASDAQ VRNS traded down $0.47 during mid-day trading on Thursday, reaching $45.05. 1,903,653 shares of the company were exchanged, compared to its average volume of 1,370,724. Varonis Systems has a 1 year low of $41.13 and a 1 year high of $60.58. The firm has a 50-day moving average of $52.51 and a 200 day moving average of $51.43. The stock has a market cap of $5.07 billion, a price-to-earnings ratio of -60.07 and a beta of 0.80. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.07 by $0.03. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The business had revenue of $148.07 million during the quarter, compared to analyst estimates of $141.62 million. During the same period in the prior year, the firm posted ($0.22) earnings per share. The company's quarterly revenue was up 21.1% on a year-over-year basis. On average, research analysts expect that Varonis Systems will post -0.73 earnings per share for the current year.

Insider Transactions at Varonis Systems

In other Varonis Systems news, Vice Chairman James O'boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, the insider now directly owns 444,114 shares of the company's stock, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the business's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares of the company's stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company's stock.

Institutional Trading of Varonis Systems

Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Varonis Systems by 9.0% in the 3rd quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company's stock valued at $100,789,000 after purchasing an additional 147,081 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Varonis Systems by 14.5% in the third quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company's stock worth $2,383,000 after buying an additional 5,031 shares in the last quarter. Tidal Investments LLC acquired a new position in Varonis Systems during the third quarter worth about $232,000. Virtue Capital Management LLC grew its stake in Varonis Systems by 2.3% during the 3rd quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock valued at $919,000 after acquiring an additional 364 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in Varonis Systems by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company's stock valued at $147,801,000 after acquiring an additional 29,050 shares during the last quarter. 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.