Varonis Systems (NASDAQ:VRNS) Rating Lowered to “Equal Weight” at Stephens

Varonis Systems (NASDAQ:VRNS) was downgraded by equities research analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Tuesday, MarketBeat.com reports.

A number of other analysts have also recently weighed in on the stock. Jefferies Financial Group cut shares of Varonis Systems from a “buy” rating to a “hold” rating and reduced their target price for the stock from $60.00 to $49.75 in a report on Friday, October 16th. Citigroup upped their price target on Varonis Systems from $45.00 to $49.75 and gave the company a “neutral” rating in a report on Friday, October 16th. JPMorgan Chase & Co. increased their price objective on Varonis Systems from $39.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. DA Davidson reissued a “neutral” rating and set a $49.75 price objective (down from $55.00) on shares of Varonis Systems in a research note on Friday, October 16th. Finally, Wells Fargo & Company lowered Varonis Systems from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $53.00 to $49.75 in a research note on Friday, October 16th. Five analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $50.89.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $49.15 on Tuesday. Varonis Systems has a 12 month low of $19.70 and a 12 month high of $63.80. The stock has a market cap of $5.65 billion, a price-to-earnings ratio of -39.96 and a beta of 0.77. The stock’s 50 day moving average price is $46.32 and its 200 day moving average price is $35.21. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.65 and a quick ratio of 1.65.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Tuesday, July 28th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.03. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%. The firm had revenue of $180.02 million during the quarter, compared to analyst estimates of $176.83 million. During the same period last year, the company posted $0.03 EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Equities research analysts anticipate that Varonis Systems will post -0.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Varonis Systems

Hedge funds have recently made changes to their positions in the company. Sterling Capital Management LLC grew its position in Varonis Systems by 840.4% during the 3rd quarter. Sterling Capital Management LLC now owns 3,771 shares of the technology company’s stock worth $179,000 after purchasing an additional 3,370 shares in the last quarter. Nisa Investment Advisors LLC lifted its holdings in shares of Varonis Systems by 98.8% in the third quarter. Nisa Investment Advisors LLC now owns 5,589 shares of the technology company’s stock valued at $265,000 after purchasing an additional 2,777 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Varonis Systems by 417.3% in the third quarter. Assenagon Asset Management S.A. now owns 89,971 shares of the technology company’s stock valued at $4,269,000 after purchasing an additional 72,577 shares in the last quarter. State of Alaska Department of Revenue purchased a new stake in shares of Varonis Systems in the third quarter valued at $247,000. Finally, Sequoia Financial Advisors LLC acquired a new stake in shares of Varonis Systems in the second quarter worth $204,000. Hedge funds and other institutional investors 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.