Varonis Systems (NASDAQ:VRNS) Reaches New 12-Month Low – Time to Sell?

Varonis Systems, Inc. (NASDAQ:VRNS)’s stock price reached a new 52-week low on Friday . The company traded as low as $37.81 and last traded at $38.36, with a volume of 2294460 shares traded. The stock had previously closed at $40.48.

Analyst Upgrades and Downgrades

VRNS has been the subject of a number of recent research reports. Citigroup lowered their price target on shares of Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. Cantor Fitzgerald initiated coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. StockNews.com raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Saturday, March 8th. Piper Sandler reduced their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating for the company in a research report on Monday, January 6th. Finally, Wells Fargo & Company dropped their target price on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Six equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Varonis Systems has a consensus rating of “Moderate Buy” and an average target price of $58.53.

Varonis Systems Stock Down 5.2 %

The company has a market cap of $4.32 billion, a P/E ratio of -44.60 and a beta of 0.76. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. The company has a fifty day moving average of $42.29 and a 200 day moving average of $47.92.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24). Varonis Systems had a negative net margin of 17.38% and a negative return on equity of 20.35%. On average, research analysts anticipate that Varonis Systems, Inc. will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its board has authorized a stock buyback program on Monday, February 10th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the technology company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP purchased a new stake in shares of Varonis Systems in the 4th quarter worth $36,000. Johnson Financial Group Inc. purchased a new stake in Varonis Systems in the fourth quarter worth about $61,000. Transce3nd LLC bought a new position in shares of Varonis Systems in the fourth quarter worth about $62,000. New Age Alpha Advisors LLC bought a new position in shares of Varonis Systems in the fourth quarter worth about $70,000. Finally, Pacer Advisors Inc. lifted its position in shares of Varonis Systems by 29.5% during the 4th quarter. Pacer Advisors Inc. now owns 2,645 shares of the technology company’s stock valued at $118,000 after buying an additional 603 shares in the last quarter. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Varonis Systems Company Profile

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.