Varonis Systems (NASDAQ:VRNS) Rating Lowered to Neutral at DA Davidson

Varonis Systems (NASDAQ:VRNS) was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Friday, October 16th, Benzinga reports. They presently have a $49.75 price objective on the technology company’s stock, down from their prior price objective of $55.00. DA Davidson‘s price objective would indicate a potential upside of 1.74% from the stock’s previous close.

A number of other brokerages have also weighed in on VRNS. Rosenblatt Securities lowered Varonis Systems from a “buy” rating to a “hold” rating and decreased their target price for the company from $55.00 to $49.75 in a research report on Friday, October 16th. Royal Bank Of Canada cut Varonis Systems from an “outperform” rating to a “neutral” rating in a research note on Friday, October 16th. JPMorgan Chase & Co. increased their price objective on Varonis Systems from $39.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday, July 27th. B. Riley Financial upped their target price on shares of Varonis Systems from $45.00 to $55.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, New Street Research reaffirmed a “buy” rating on shares of Varonis Systems in a report on Wednesday, July 29th. Five analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $50.89.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS traded down $0.21 on Friday, hitting $48.90. The stock had a trading volume of 3,397,354 shares, compared to its average volume of 2,679,486. The firm’s 50 day moving average price is $46.52 and its 200-day moving average price is $35.36. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of -39.76 and a beta of 0.77. Varonis Systems has a twelve month low of $19.70 and a twelve month high of $50.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.65 and a current ratio of 1.65.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.03. The business had revenue of $180.02 million for the quarter, compared to analyst estimates of $176.83 million. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%. Varonis Systems’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.03 EPS. On average, equities research analysts predict that Varonis Systems will post -0.95 earnings per share for the current year.

Hedge Funds Weigh In On Varonis Systems

Large investors have recently made changes to their positions in the business. Pictet Asset Management Holding SA raised its holdings in shares of Varonis Systems by 43.4% in the first quarter. Pictet Asset Management Holding SA now owns 3,123,056 shares of the technology company’s stock valued at $67,029,000 after buying an additional 944,676 shares during the last quarter. American Capital Management Inc. lifted its position in shares of Varonis Systems by 54.3% during the 1st quarter. American Capital Management Inc. now owns 2,328,379 shares of the technology company’s stock valued at $49,990,000 after buying an additional 819,340 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Varonis Systems by 17.9% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,992,760 shares of the technology company’s stock worth $42,785,000 after buying an additional 302,411 shares in the last quarter. Clal Insurance Enterprises Holdings Ltd purchased a new stake in shares of Varonis Systems in the second quarter valued at about $61,262,000. Finally, Senvest Management LLC lifted its position in Varonis Systems by 406.1% during the first quarter. Senvest Management LLC now owns 1,448,943 shares of the technology company’s stock worth $31,109,000 after buying an additional 1,162,651 shares during the period. Institutional investors and hedge funds own 95.65% of the company’s stock.

Varonis Systems Company Profile

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company’s products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.