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

Varonis Systems (NASDAQ:VRNS) was downgraded by investment analysts at Susquehanna from a “positive” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat Ratings reports. They presently have a $49.75 price objective on the technology company’s stock, down from their prior price objective of $55.00. Susquehanna‘s target price suggests a potential upside of 1.95% from the company’s current price.

VRNS has been the subject of several other reports. Piper Sandler lowered Varonis Systems from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $58.00 to $49.75 in a research note on Friday, October 16th. New Street Research restated a “buy” rating on shares of Varonis Systems in a report on Wednesday, July 29th. Barclays lowered Varonis Systems from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Monday, October 19th. Cantor Fitzgerald reduced their target price on Varonis Systems from $55.00 to $49.75 and set an “overweight” rating for the company in a report on Wednesday. Finally, Citigroup increased their price target on Varonis Systems from $45.00 to $49.75 and gave the company a “neutral” rating in a research report on Friday, October 16th. Four investment analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $50.39.

Varonis Systems Price Performance

VRNS stock traded up $0.07 on Thursday, hitting $48.80. 5,262,533 shares of the company’s stock traded hands, compared to its average volume of 5,002,368. Varonis Systems has a 1-year low of $19.70 and a 1-year high of $50.31. The stock has a market cap of $5.61 billion, a price-to-earnings ratio of -36.69 and a beta of 0.76. The stock has a fifty day moving average of $47.61 and a 200-day moving average of $35.94. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Tuesday, November 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.06. The firm had revenue of $189.46 million for the quarter, compared to analyst estimates of $186.74 million. Varonis Systems had a negative net margin of 20.55% and a negative return on equity of 19.18%. The firm’s quarterly revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.06 earnings per share. On average, analysts forecast that Varonis Systems will post -0.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRNS. Diversified Trust Co raised its position in shares of Varonis Systems by 8.9% in the third quarter. Diversified Trust Co now owns 17,647 shares of the technology company’s stock valued at $837,000 after purchasing an additional 1,446 shares during the period. Aberdeen Group plc acquired a new position in shares of Varonis Systems during the 3rd quarter worth about $4,160,000. Russell Investments Group Ltd. lifted its position in shares of Varonis Systems by 41.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,008,115 shares of the technology company’s stock worth $47,821,000 after purchasing an additional 293,245 shares during the last quarter. Eurizon Capital SGR S.p.A. grew its holdings in Varonis Systems by 89.8% in the 3rd quarter. Eurizon Capital SGR S.p.A. now owns 30,409 shares of the technology company’s stock valued at $1,443,000 after buying an additional 14,387 shares during the last quarter. Finally, R Squared Ltd acquired a new stake in Varonis Systems in the 3rd quarter valued at approximately $212,000. Institutional investors 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.