Jefferies Financial Group Issues Pessimistic Forecast for Varonis Systems (NASDAQ:VRNS) Stock Price

Varonis Systems (NASDAQ:VRNS) had its target price reduced by Jefferies Financial Group from $50.00 to $45.00 in a report released on Monday morning,Benzinga reports. Jefferies Financial Group currently has a hold rating on the technology company’s stock.

Several other research firms also recently commented on VRNS. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Morgan Stanley assumed coverage on shares of Varonis Systems in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Wells Fargo & Company dropped their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Wednesday, February 5th. Cantor Fitzgerald began coverage on Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target for the company. Finally, Citigroup dropped their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Six analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $58.53.

Varonis Systems Stock Down 2.9 %

VRNS stock opened at $40.45 on Monday. The stock’s 50 day moving average is $42.64 and its 200-day moving average is $48.22. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58. The firm has a market capitalization of $4.55 billion, a PE ratio of -47.03 and a beta of 0.85. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) EPS 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%. Sell-side analysts expect that Varonis Systems will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its Board of Directors has initiated a share repurchase plan on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently bought and sold shares of VRNS. 111 Capital purchased a new stake in Varonis Systems in the fourth quarter worth $261,000. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Varonis Systems in the 4th quarter worth about $207,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of Varonis Systems during the fourth quarter valued at about $6,848,000. Virtue Capital Management LLC lifted its holdings in Varonis Systems by 6.5% in the fourth quarter. Virtue Capital Management LLC now owns 17,320 shares of the technology company’s stock worth $770,000 after buying an additional 1,056 shares during the period. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. boosted its position in Varonis Systems by 0.3% during the 4th quarter. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. now owns 395,820 shares of the technology company’s stock valued at $17,586,000 after acquiring an additional 1,073 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

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.