Varonis Systems (NASDAQ:VRNS) Research Coverage Started at Morgan Stanley

Morgan Stanley started coverage on shares of Varonis Systems (NASDAQ:VRNS) in a research note published on Tuesday. The brokerage issued an overweight rating on the technology company’s stock.

Several other equities analysts have also recently issued reports on VRNS. Piper Sandler reduced their price objective on Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company reduced their price objective on Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 5th. Needham & Company LLC restated a “buy” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Wednesday, February 5th. StockNews.com upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Saturday, March 8th. Finally, Cantor Fitzgerald began coverage on Varonis Systems in a research note on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given 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 price target of $59.38.

Varonis Systems Stock Down 1.7 %

Shares of NASDAQ:VRNS opened at $41.54 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.99. Varonis Systems has a 52-week low of $39.11 and a 52-week high of $60.58. The company has a 50 day moving average of $43.13 and a two-hundred day moving average of $48.85. The company has a market capitalization of $4.68 billion, a price-to-earnings ratio of -48.30 and a beta of 0.85.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate 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%. As a group, analysts forecast that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Varonis Systems declared that its Board of Directors has authorized a share buyback program on Monday, February 10th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the technology company to buy up to 2.1% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Varonis Systems

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

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.