Varonis Systems (NASDAQ:VRNS) Stock Gets Price Target Cut from Cantor Fitzgerald

Varonis Systems (NASDAQ:VRNS) had its price objective trimmed by Cantor Fitzgerald from $55.00 to $49.75 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the technology company’s stock.

A number of other research firms also recently issued reports on VRNS. Citigroup increased their target price on shares of Varonis Systems from $45.00 to $49.75 and gave the stock a “neutral” rating in a research report on Friday, October 16th. Needham & Company LLC downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 16th. Barclays lowered shares of Varonis Systems from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research report on Monday, October 19th. Yorkville Ives started coverage on shares of Varonis Systems in a research note on Monday, October 5th. They issued an “in-line” rating and a $50.00 target price on the stock. Finally, Truist Financial lowered shares of Varonis Systems from a “strong-buy” rating to a “hold” rating in a report on Friday, October 16th. Four research analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.39.

Varonis Systems Trading Up 0.1%

Varonis Systems stock traded up $0.07 during midday trading on Wednesday, reaching $48.80. The stock had a trading volume of 5,262,533 shares, compared to its average volume of 5,002,368. Varonis Systems has a twelve month low of $19.70 and a twelve month high of $50.31. The stock has a market capitalization of $5.61 billion, a PE ratio of -36.69 and a beta of 0.76. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.65 and a current ratio of 1.65. The stock’s 50-day simple moving average is $47.61 and its 200 day simple moving average is $35.94.

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, beating analysts’ consensus estimates of $0.03 by $0.06. The firm had revenue of $189.46 million during the quarter, compared to the consensus estimate of $186.74 million. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%. 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 earned $0.06 earnings per share. Analysts expect that Varonis Systems will post -0.94 EPS for the current year.

Institutional Trading of Varonis Systems

Several large investors have recently bought and sold shares of the company. American Capital Management Inc. acquired a new position in shares of Varonis Systems during the second quarter worth $94,062,000. Clal Insurance Enterprises Holdings Ltd purchased a new stake in Varonis Systems during the 2nd quarter worth $61,262,000. Senvest Management LLC increased its stake in Varonis Systems by 406.1% during the 1st 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. Arrowstreet Capital Limited Partnership lifted its holdings in Varonis Systems by 218.4% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock worth $30,262,000 after buying an additional 966,817 shares in the last quarter. Finally, Wellington Management Group LLP acquired a new position in Varonis Systems in the 2nd quarter worth $30,733,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

About Varonis Systems

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.