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

Varonis Systems (NASDAQ:VRNS) had its price objective lowered by investment analysts at Jefferies Financial Group from $50.00 to $45.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the technology company’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 12.13% from the company’s current price.

A number of other equities analysts have also weighed in on the company. DA Davidson decreased their price target on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Wells Fargo & Company decreased their target price on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating for the company in a report on Wednesday, February 5th. Wolfe Research upgraded shares of Varonis Systems from a “peer perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Friday. 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. Finally, Piper Sandler cut their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Six investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Varonis Systems has a consensus rating of “Moderate Buy” and an average target price of $58.53.

Varonis Systems Price Performance

NASDAQ VRNS traded down $1.51 on Monday, reaching $40.13. The company’s stock had a trading volume of 563,587 shares, compared to its average volume of 1,470,365. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The firm’s 50 day moving average is $42.71 and its two-hundred day moving average is $48.31. The stock has a market cap of $4.52 billion, a PE ratio of -46.69 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued its 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, sell-side analysts predict that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems announced that its Board of Directors has approved a stock buyback plan on Monday, February 10th that permits the company to repurchase $100.00 million in outstanding shares. This repurchase authorization permits the technology company to buy up to 2.1% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Varonis Systems

A number of hedge funds have recently added to or reduced their stakes in VRNS. Quarry LP bought a new stake in shares of Varonis Systems in the 4th quarter valued at about $36,000. Johnson Financial Group Inc. acquired a new position in shares of Varonis Systems in the fourth quarter valued at approximately $61,000. Transce3nd LLC bought a new stake in shares of Varonis Systems during the fourth quarter worth $62,000. New Age Alpha Advisors LLC bought a new position in shares of Varonis Systems during the 4th quarter worth approximately $70,000. Finally, Pacer Advisors Inc. lifted its position in shares of Varonis Systems by 29.5% in the fourth quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares in the last quarter. Institutional investors 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.