Varonis Systems (NASDAQ:VRNS) Cut to “Equal Weight” at Stephens

Stephens downgraded shares of Varonis Systems (NASDAQ:VRNS) from an overweight rating to an equal weight rating in a research note published on Tuesday, MarketBeat.com reports.

Other research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their target price on Varonis Systems from $39.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Barclays downgraded Varonis Systems from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a report on Monday, October 19th. Wolfe Research lowered Varonis Systems from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 21st. TD Cowen downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $56.00 to $49.75 in a report on Friday, October 16th. Finally, Wedbush increased their price objective on shares of Varonis Systems from $46.00 to $49.75 and gave the company a “neutral” rating in a research report on Friday, October 16th. Five research analysts have rated the stock with a Buy rating, twenty-one have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.89.

Varonis Systems Stock Performance

NASDAQ:VRNS opened at $48.82 on Tuesday. Varonis Systems has a 52 week low of $19.70 and a 52 week high of $50.31. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.65 and a quick ratio of 1.65. The firm has a 50 day moving average of $46.76 and a 200 day moving average of $35.50.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, July 28th. The technology company reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. The firm had revenue of $180.02 million during the quarter, compared to analyst estimates of $176.83 million. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.03 EPS. As a group, research analysts predict that Varonis Systems will post -0.95 earnings per share for the current fiscal year.

Institutional Trading of Varonis Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantinno Capital Management LP boosted its position in Varonis Systems by 59.0% in the 1st quarter. Quantinno Capital Management LP now owns 76,843 shares of the technology company’s stock worth $1,650,000 after purchasing an additional 28,512 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Varonis Systems by 218.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,409,487 shares of the technology company’s stock valued at $30,262,000 after purchasing an additional 966,817 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Varonis Systems by 17.1% during the 1st quarter. Bank of New York Mellon Corp now owns 552,203 shares of the technology company’s stock valued at $11,856,000 after purchasing an additional 80,743 shares in the last quarter. California State Teachers Retirement System lifted its stake in shares of Varonis Systems by 23.1% in the 1st quarter. California State Teachers Retirement System now owns 132,215 shares of the technology company’s stock valued at $2,839,000 after purchasing an additional 24,775 shares during the period. Finally, Trillium Asset Management LLC acquired a new position in shares of Varonis Systems in the 2nd quarter valued at $3,477,000. Institutional investors and hedge funds own 95.65% of the company’s stock.

About Varonis Systems

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company’s products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.