Varonis Systems (NASDAQ:VRNS) had its target price decreased by stock analysts at Jefferies Financial Group from $81.00 to $73.00 in a research note issued to investors on Tuesday. The firm currently has a “buy” rating on the technology company’s stock. Jefferies Financial Group’s price target suggests a potential upside of 36.65% from the company’s current price.
A number of other equities analysts have also commented on VRNS. Royal Bank of Canada cut their price objective on Varonis Systems from $80.00 to $65.00 and set an “outperform” rating on the stock in a research note on Tuesday. Oppenheimer cut their price objective on Varonis Systems from $80.00 to $68.00 and set an “outperform” rating on the stock in a research note on Tuesday. Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 price objective on shares of Varonis Systems in a research note on Tuesday. Craig Hallum lowered Varonis Systems from a “buy” rating to a “hold” rating and set a $49.70 price objective on the stock. in a research note on Tuesday. Finally, Benchmark lowered Varonis Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $68.21.
Shares of VRNS stock traded down $10.54 during mid-day trading on Tuesday, reaching $53.42. 2,865,099 shares of the stock traded hands, compared to its average volume of 295,004. Varonis Systems has a 1-year low of $48.67 and a 1-year high of $83.10. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of -106.84 and a beta of 0.99.
Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, February 11th. The technology company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.11. The firm had revenue of $87.52 million for the quarter, compared to analyst estimates of $87.33 million. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. As a group, analysts forecast that Varonis Systems will post -0.9 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Dynamic Technology Lab Private Ltd bought a new stake in Varonis Systems in the third quarter worth approximately $243,000. Public Employees Retirement Association of Colorado bought a new stake in Varonis Systems in the third quarter worth approximately $265,000. United Services Automobile Association increased its holdings in Varonis Systems by 27.0% in the third quarter. United Services Automobile Association now owns 4,243 shares of the technology company’s stock worth $311,000 after purchasing an additional 902 shares in the last quarter. AlphaCrest Capital Management LLC bought a new stake in Varonis Systems in the fourth quarter worth approximately $302,000. Finally, Xact Kapitalforvaltning AB increased its holdings in Varonis Systems by 26.1% in the fourth quarter. Xact Kapitalforvaltning AB now owns 5,800 shares of the technology company’s stock worth $307,000 after purchasing an additional 1,200 shares in the last quarter. Institutional investors and hedge funds own 83.75% of the company’s stock.
About Varonis Systems
Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.
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