StockNews.com Upgrades Varonis Systems (NASDAQ:VRNS) to "Hold"

StockNews.com upgraded shares of Varonis Systems (NASDAQ:VRNS - Free Report) from a sell rating to a hold rating in a research report report published on Saturday.

A number of other equities research analysts have also recently weighed in on VRNS. Wells Fargo & Company cut their price objective on Varonis Systems from $48.00 to $46.00 and set an "equal weight" rating on the stock in a report on Wednesday, February 5th. Jefferies Financial Group decreased their price objective on Varonis Systems from $60.00 to $50.00 and set a "hold" rating for the company in a research note on Thursday, December 19th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They set an "overweight" rating and a $60.00 target price on the stock. Citigroup reduced their target price on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, January 17th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $67.00 price target on shares of Varonis Systems in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Varonis Systems presently has a consensus rating of "Moderate Buy" and an average target price of $59.38.

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Varonis Systems Trading Down 0.7 %

VRNS traded down $0.28 during trading hours on Friday, reaching $39.73. The company's stock had a trading volume of 2,231,375 shares, compared to its average volume of 1,396,687. The stock has a market cap of $4.47 billion, a PE ratio of -46.20 and a beta of 0.85. Varonis Systems has a fifty-two week low of $39.52 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 $43.73 and its 200-day moving average is $49.65.

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 of Directors has initiated a share buyback plan on Monday, February 10th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Institutional Trading of Varonis Systems

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in shares of Varonis Systems by 7.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company's stock valued at $193,000 after acquiring an additional 298 shares during the period. Teza Capital Management LLC increased its stake in Varonis Systems by 3.1% in the 4th quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company's stock valued at $437,000 after purchasing an additional 299 shares in the last quarter. Virtue Capital Management LLC raised its holdings in Varonis Systems by 2.3% during the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company's stock worth $919,000 after purchasing an additional 364 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Varonis Systems by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company's stock worth $512,000 after purchasing an additional 365 shares in the last quarter. Finally, Bailard Inc. increased its position in shares of Varonis Systems by 0.4% in the fourth quarter. Bailard Inc. now owns 93,627 shares of the technology company's stock valued at $4,160,000 after buying an additional 417 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company's stock.

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.