Varonis Systems (NASDAQ:VRNS) Stock Rating Upgraded by Wolfe Research

Varonis Systems (NASDAQ:VRNS) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $50.00 price target on the technology company’s stock. Wolfe Research’s price objective would indicate a potential upside of 19.93% from the stock’s current price.

Several other equities analysts also recently issued reports on the stock. Jefferies Financial Group decreased their price objective on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, December 19th. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a report on Saturday, March 8th. Needham & Company LLC reiterated a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. DA Davidson decreased their target price on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Thursday, December 12th. Finally, Morgan Stanley began coverage on Varonis Systems in a research note on Tuesday, March 18th. They issued an “overweight” rating on the stock. Six 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.82.

Varonis Systems Price Performance

Shares of Varonis Systems stock opened at $41.69 on Friday. The firm has a market cap of $4.69 billion, a PE ratio of -48.48 and a beta of 0.85. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The business has a 50-day moving average price of $42.77 and a 200 day moving average price of $48.41.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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 net margin of 17.38% and a negative return on equity of 20.35%. Sell-side 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 approved a share repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to purchase up to 2.1% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Hedge Funds Weigh In On Varonis Systems

Several institutional investors and hedge funds have recently bought and sold shares of VRNS. Quarry LP purchased a new stake in shares of Varonis Systems during the 4th quarter valued at approximately $36,000. Johnson Financial Group Inc. acquired a new stake in Varonis Systems during the fourth quarter worth $61,000. Transce3nd LLC purchased a new stake in Varonis Systems in the fourth quarter valued at $62,000. New Age Alpha Advisors LLC acquired a new position in shares of Varonis Systems in the 4th quarter valued at $70,000. Finally, Pacer Advisors Inc. grew its holdings in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock worth $118,000 after purchasing an additional 603 shares during the period. 95.65% of the stock is currently owned by institutional investors and hedge funds.

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.