Varonis Systems’ (VRNS) “Overweight” Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of Varonis Systems (NASDAQ:VRNS) in a research report released on Wednesday,Benzinga reports. Cantor Fitzgerald currently has a $60.00 price target on the technology company’s stock.

Other analysts have also issued research reports about the company. Barclays dropped their target price on Varonis Systems from $60.00 to $52.00 and set an “overweight” rating on the stock in a report on Monday, April 14th. Citigroup cut their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Morgan Stanley lowered their target price on shares of Varonis Systems from $54.00 to $46.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Friday, March 28th. Finally, StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.06.

Varonis Systems Stock Down 0.4 %

Varonis Systems stock opened at $45.30 on Wednesday. The company has a fifty day simple moving average of $41.35 and a 200 day simple moving average of $45.13. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a 1-year low of $36.53 and a 1-year high of $60.58. The company has a market cap of $5.07 billion, a P/E ratio of -52.67 and a beta of 0.79.

Varonis Systems announced that its Board of Directors has authorized a stock repurchase program on Monday, February 10th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in VRNS. Mutual of America Capital Management LLC lifted its position in shares of Varonis Systems by 0.3% during the 1st quarter. Mutual of America Capital Management LLC now owns 85,255 shares of the technology company’s stock worth $3,449,000 after buying an additional 284 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Varonis Systems by 7.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after buying an additional 298 shares during the period. Teza Capital Management LLC increased its position 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 buying an additional 299 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in Varonis Systems by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock worth $512,000 after buying an additional 365 shares during the period. Finally, Bailard Inc. raised its stake in Varonis Systems by 0.4% during the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock worth $4,160,000 after buying an additional 417 shares during the period. 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.