Varonis Systems (VRNS) Cut to “Hold” at Benchmark

Varonis Systems (NASDAQ:VRNS) was downgraded by equities researchers at Benchmark from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, The Fly reports.

Other research analysts also recently issued research reports about the stock. JMP Securities downgraded shares of Varonis Systems from an “outperform” rating to a “market perform” rating in a research note on Tuesday. Stifel Nicolaus downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Robert W. Baird reissued a “buy” rating and issued a $60.00 target price on shares of Varonis Systems in a research note on Tuesday. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Finally, Morgan Stanley set a $70.00 target price on shares of Varonis Systems and gave the company a “hold” rating in a research note on Friday, October 19th. Eight analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $73.00.

Shares of VRNS stock opened at $63.96 on Tuesday. Varonis Systems has a twelve month low of $48.67 and a twelve month high of $83.10. The stock has a market capitalization of $1.85 billion, a P/E ratio of -127.92 and a beta of 0.99.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Monday, February 11th. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.20. Varonis Systems had a negative net margin of 11.53% and a negative return on equity of 26.27%. Equities analysts expect that Varonis Systems will post -0.9 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. grew its holdings in Varonis Systems by 97.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 91,672 shares of the technology company’s stock valued at $4,450,000 after buying an additional 45,307 shares during the period. State of Wisconsin Investment Board grew its holdings in Varonis Systems by 67.0% in the 2nd quarter. State of Wisconsin Investment Board now owns 192,000 shares of the technology company’s stock valued at $7,142,000 after buying an additional 77,000 shares during the period. Allianz Asset Management AG purchased a new stake in Varonis Systems in the 4th quarter valued at about $1,356,000. Jennison Associates grew its holdings in Varonis Systems by 32.6% in the 3rd quarter. Jennison Associates now owns 942,968 shares of the technology company’s stock valued at $14,691,000 after buying an additional 232,084 shares during the period. Finally, Cortina Asset Management LLC grew its holdings in Varonis Systems by 84.0% in the 4th quarter. Cortina Asset Management LLC now owns 347,840 shares of the technology company’s stock valued at $6,539,000 after buying an additional 158,822 shares during the period. Institutional investors own 83.75% of the company’s stock.

Varonis Systems Company Profile

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.

Further Reading: What is Liquidity?

The Fly

Analyst Recommendations for Varonis Systems (NASDAQ:VRNS)

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