Barclays Cuts Varonis Systems (NASDAQ:VRNS) Price Target to $52.00

Varonis Systems (NASDAQ:VRNS) had its price target trimmed by Barclays from $60.00 to $52.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

Several other equities analysts also recently commented on the stock. Jefferies Financial Group dropped their price target on shares of Varonis Systems from $50.00 to $45.00 and set a “hold” rating for the company in a research note on Monday, March 31st. StockNews.com downgraded Varonis Systems from a “hold” rating to a “sell” rating in a report on Friday, April 11th. Cantor Fitzgerald started coverage on Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price objective for the company. Citigroup cut their target price on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. Finally, Morgan Stanley initiated coverage on shares of Varonis Systems in a report on Tuesday, March 18th. They issued an “overweight” rating on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $57.11.

Varonis Systems Price Performance

VRNS stock opened at $40.83 on Monday. The business’s fifty day moving average price is $41.51 and its 200 day moving average price is $46.91. Varonis Systems has a 12-month low of $36.53 and a 12-month high of $60.58. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $4.60 billion, a PE ratio of -47.48 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. On average, sell-side analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

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

Institutional Trading of Varonis Systems

Institutional investors and hedge funds have recently bought and sold shares of the business. Quarry LP acquired a new position in Varonis Systems in the fourth quarter valued at $36,000. Johnson Financial Group Inc. acquired a new position in Varonis Systems in the 4th quarter valued at about $61,000. Transce3nd LLC acquired a new position in Varonis Systems in the 4th quarter valued at about $62,000. New Age Alpha Advisors LLC purchased a new stake in Varonis Systems during the 4th quarter valued at approximately $70,000. Finally, NBC Securities Inc. lifted its position in Varonis Systems by 100,200.0% during the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company’s stock worth $81,000 after acquiring an additional 2,004 shares during the period. 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.