DA Davidson Cuts Varonis Systems (NASDAQ:VRNS) Price Target to $47.00

Varonis Systems (NASDAQ:VRNS) had its price objective lowered by DA Davidson from $50.00 to $47.00 in a report published on Thursday,Benzinga reports. DA Davidson currently has a neutral rating on the technology company’s stock.

A number of other research firms have also recently issued reports on VRNS. Barclays increased their target price on Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. UBS Group raised their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $59.80.

Varonis Systems Stock Down 1.8 %

Shares of NASDAQ:VRNS opened at $47.10 on Thursday. The company has a 50 day moving average price of $53.11 and a two-hundred day moving average price of $51.36. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market capitalization of $5.30 billion, a PE ratio of -62.80 and a beta of 0.80. Varonis Systems has a 52 week low of $41.13 and a 52 week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Tuesday, October 29th. The technology company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. The business had revenue of $148.07 million during the quarter, compared to analysts’ expectations of $141.62 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%. The firm’s quarterly revenue was up 21.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. Analysts forecast that Varonis Systems will post -0.73 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $53.70, for a total value of $4,905,226.50. Following the sale, the chief financial officer now owns 504,598 shares in the company, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 10.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Varonis Systems

Large investors have recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in Varonis Systems by 445.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after buying an additional 423 shares during the last quarter. International Assets Investment Management LLC increased its stake in shares of Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the period. KBC Group NV lifted its holdings in Varonis Systems by 25.5% during the 3rd quarter. KBC Group NV now owns 3,263 shares of the technology company’s stock worth $184,000 after purchasing an additional 663 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in Varonis Systems during the 3rd quarter worth approximately $184,000. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of Varonis Systems in the second quarter valued at about $215,000. 95.65% of the stock is owned by institutional investors.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.