Varonis Systems (VRNS) Rating Lowered to Hold at Stifel Nicolaus

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

VRNS has been the topic of several other research reports. Morgan Stanley reduced their price target on shares of Varonis Systems from $70.00 to $68.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 30th. BidaskClub raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, December 11th. Wedbush reissued a “hold” rating and set a $68.00 price target on shares of Varonis Systems in a research report on Tuesday, October 30th. Craig Hallum raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Finally, Robert W. Baird initiated coverage on shares of Varonis Systems in a research report on Thursday, October 18th. They set an “outperform” rating and a $75.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.00.

Shares of VRNS stock opened at $63.96 on Tuesday. The stock has a market cap of $1.85 billion, a price-to-earnings ratio of -127.92 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 announced its earnings results on Monday, February 11th. The technology company reported $0.54 earnings per share for the quarter, topping the Thomson Reuters’ 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%. As a group, equities analysts forecast that Varonis Systems will post -0.9 EPS for the current year.

A number of large investors have recently modified their holdings of the stock. Van ECK Associates Corp raised its holdings in Varonis Systems by 3.9% in the fourth quarter. Van ECK Associates Corp now owns 4,995 shares of the technology company’s stock valued at $134,000 after acquiring an additional 189 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Varonis Systems by 1.2% in the first quarter. Massachusetts Financial Services Co. MA now owns 31,268 shares of the technology company’s stock valued at $994,000 after acquiring an additional 373 shares in the last quarter. NorthCoast Asset Management LLC raised its holdings in Varonis Systems by 1.1% in the second quarter. NorthCoast Asset Management LLC now owns 39,241 shares of the technology company’s stock valued at $1,460,000 after acquiring an additional 426 shares in the last quarter. American International Group Inc. raised its holdings in Varonis Systems by 7.1% in the first quarter. American International Group Inc. now owns 6,588 shares of the technology company’s stock valued at $209,000 after acquiring an additional 437 shares in the last quarter. Finally, Strs Ohio raised its holdings in Varonis Systems by 2.8% in the third quarter. Strs Ohio now owns 21,700 shares of the technology company’s stock valued at $653,000 after acquiring an additional 600 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

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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