Varonis Systems (NASDAQ:VRNS) had its target price reduced by UBS Group from $80.00 to $68.00 in a research report issued on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the technology company’s stock. UBS Group’s target price would indicate a potential upside of 26.68% from the stock’s current price.
Several other research firms also recently issued reports on VRNS. Robert W. Baird initiated coverage on Varonis Systems in a report on Thursday, October 18th. They issued an “outperform” rating and a $75.00 price objective on the stock. Morgan Stanley set a $70.00 price target on Varonis Systems and gave the stock a “hold” rating in a report on Friday, October 19th. Wedbush initiated coverage on Varonis Systems in a report on Thursday, October 18th. They set a “neutral” rating and a $65.00 price target on the stock. Craig Hallum downgraded Varonis Systems from a “buy” rating to a “hold” rating and cut their price target for the stock from $68.00 to $49.70 in a report on Tuesday. Finally, Benchmark downgraded Varonis Systems from a “buy” rating to a “hold” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $67.09.
Shares of VRNS stock traded down $1.55 on Tuesday, hitting $53.68. The stock had a trading volume of 202,319 shares, compared to its average volume of 519,688. The company has a market capitalization of $1.63 billion, a PE ratio of -107.36 and a beta of 0.99. Varonis Systems has a 1 year low of $48.67 and a 1 year high of $83.10.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, February 11th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.11. The firm had revenue of $87.52 million for the quarter, compared to the consensus estimate of $87.33 million. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. Sell-side analysts expect that Varonis Systems will post -0.9 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of VRNS. NumerixS Investment Technologies Inc boosted its position in shares of Varonis Systems by 257.1% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock worth $133,000 after acquiring an additional 1,800 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Varonis Systems during the 3rd quarter worth about $243,000. Public Employees Retirement Association of Colorado acquired a new position in shares of Varonis Systems during the 3rd quarter worth about $265,000. United Services Automobile Association boosted its position in shares of Varonis Systems by 27.0% during the 3rd quarter. United Services Automobile Association now owns 4,243 shares of the technology company’s stock worth $311,000 after acquiring an additional 902 shares in the last quarter. Finally, AlphaCrest Capital Management LLC acquired a new position in shares of Varonis Systems during the 4th quarter worth about $302,000. Institutional investors 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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