Varonis Systems (NASDAQ:VRNS) Stock Rating Lowered by Susquehanna

Varonis Systems (NASDAQ:VRNS) was downgraded by research analysts at Susquehanna from a “positive” rating to a “neutral” rating in a report released on Thursday, Briefing.com reports. They presently have a $49.75 target price on the technology company’s stock. Susquehanna‘s price target indicates a potential upside of 1.95% from the stock’s current price.

Several other research analysts have also recently weighed in on the stock. DA Davidson cut shares of Varonis Systems from a “buy” rating to a “neutral” rating and reduced their price target for the company from $55.00 to $49.75 in a report on Friday, October 16th. Rosenblatt Securities lowered shares of Varonis Systems from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $55.00 to $49.75 in a report on Friday, October 16th. JPMorgan Chase & Co. boosted their price objective on shares of Varonis Systems from $39.00 to $55.00 and gave the company an “overweight” rating in a research report on Monday, July 27th. Piper Sandler lowered shares of Varonis Systems from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $49.75 in a research note on Friday, October 16th. Finally, New Street Research reiterated a “buy” rating on shares of Varonis Systems in a report on Wednesday, July 29th. Four research analysts have rated the stock with a Buy rating, twenty-two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Varonis Systems presently has a consensus rating of “Hold” and an average price target of $50.39.

Varonis Systems Price Performance

Shares of VRNS opened at $48.80 on Thursday. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02. The stock has a 50 day simple moving average of $47.38 and a 200 day simple moving average of $35.78. Varonis Systems has a 52-week low of $19.70 and a 52-week high of $50.31.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Tuesday, November 3rd. The technology company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.06. The business had revenue of $189.46 million during the quarter, compared to analysts’ expectations of $186.74 million. Varonis Systems had a negative return on equity of 21.47% and a negative net margin of 21.38%. Varonis Systems’s revenue for the quarter was up 17.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. On average, sell-side analysts forecast that Varonis Systems will post -0.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently made changes to their positions in VRNS. EverSource Wealth Advisors LLC raised its holdings in shares of Varonis Systems by 161.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,360 shares of the technology company’s stock valued at $29,000 after purchasing an additional 839 shares during the last quarter. Fifth Third Bancorp boosted its holdings in Varonis Systems by 10,694.1% during the first quarter. Fifth Third Bancorp now owns 1,835 shares of the technology company’s stock worth $39,000 after purchasing an additional 1,818 shares during the last quarter. Essential Partners LLC boosted its holdings in Varonis Systems by 72.5% during the first quarter. Essential Partners LLC now owns 2,054 shares of the technology company’s stock worth $44,000 after purchasing an additional 863 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Varonis Systems during the second quarter worth $55,000. Finally, Parallel Advisors LLC grew its position in Varonis Systems by 1,025.4% in the first quarter. Parallel Advisors LLC now owns 3,320 shares of the technology company’s stock valued at $71,000 after purchasing an additional 3,025 shares in the last quarter. 95.65% of the stock is owned by institutional investors.

Varonis Systems Company Profile

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.