Varonis Systems (NASDAQ:VRNS) Price Target Lowered to $50.00 at Jefferies Financial Group

Varonis Systems (NASDAQ:VRNS) had its target price lowered by Jefferies Financial Group from $60.00 to $50.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a hold rating on the technology company’s stock.

A number of other equities analysts have also commented on VRNS. JPMorgan Chase & Co. raised their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday, October 30th. Robert W. Baird boosted their price target on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. DA Davidson lowered their price objective on Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Finally, Wedbush reiterated an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a research report on Monday, August 26th. Six equities research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $59.19.

Varonis Systems Trading Down 1.0 %

Shares of NASDAQ:VRNS opened at $45.05 on Thursday. Varonis Systems has a 12-month low of $41.13 and a 12-month high of $60.58. The business has a 50 day moving average of $52.23 and a 200-day moving average of $51.38. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 1.05. The stock has a market cap of $5.07 billion, a PE ratio of -60.07 and a beta of 0.80.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, October 29th. The technology company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to the consensus estimate of $141.62 million. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.22) EPS. As a group, equities research analysts forecast that Varonis Systems will post -0.73 earnings per share for the current year.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the transaction, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. This trade represents a 10.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Guy Melamed sold 91,345 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the sale, the chief financial officer now directly owns 504,598 shares in the company, valued at $27,096,912.60. The trade was a 15.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. grew its stake in shares of Varonis Systems by 9.0% in the third quarter. Principal Financial Group Inc. now owns 1,783,873 shares of the technology company’s stock worth $100,789,000 after purchasing an additional 147,081 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Varonis Systems by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 39,785 shares of the technology company’s stock worth $2,383,000 after buying an additional 5,031 shares during the period. Tidal Investments LLC bought a new stake in shares of Varonis Systems in the 3rd quarter valued at about $232,000. Virtue Capital Management LLC increased its stake in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock valued at $919,000 after buying an additional 364 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Varonis Systems by 1.1% during the third quarter. Geode Capital Management LLC now owns 2,615,462 shares of the technology company’s stock worth $147,801,000 after acquiring an additional 29,050 shares during the last quarter. 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.