Varonis Systems (NASDAQ:VRNS) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Varonis Systems (NASDAQ:VRNS) from a peer perform rating to an outperform rating in a report released on Friday, MarketBeat reports. The brokerage currently has $50.00 price target on the technology company’s stock.

Several other equities research analysts have also issued reports on the stock. StockNews.com raised shares of Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Jefferies Financial Group cut their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, December 19th. Morgan Stanley assumed coverage on shares of Varonis Systems in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Piper Sandler cut their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research note on Monday, January 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Wednesday, February 5th. Six research analysts have rated the stock with 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.82.

Varonis Systems Price Performance

Shares of VRNS opened at $41.64 on Friday. The company has a 50 day moving average of $42.71 and a two-hundred day moving average of $48.31. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a twelve month low of $39.11 and a twelve month high of $60.58. The company has a market cap of $4.69 billion, a price-to-earnings ratio of -48.42 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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, 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.

Institutional Trading of Varonis Systems

Hedge funds have recently made changes to their positions in the company. Quarry LP acquired a new position in Varonis Systems in the fourth quarter valued at approximately $36,000. Johnson Financial Group Inc. purchased a new stake in shares of Varonis Systems in the 4th quarter valued at approximately $61,000. Transce3nd LLC acquired a new position in shares of Varonis Systems in the 4th quarter worth approximately $62,000. New Age Alpha Advisors LLC purchased a new position in shares of Varonis Systems during the 4th quarter worth approximately $70,000. Finally, Pacer Advisors Inc. increased its holdings in Varonis Systems by 29.5% in the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after purchasing an additional 603 shares during the last quarter. Hedge funds and other 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.