Varonis Systems (VRNS) Downgraded to Hold at Stifel Nicolaus

Posted by Shane Hupp on Feb 12th, 2019 // No Comments

Varonis Systems (NASDAQ:VRNS) was downgraded by equities research analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday, The Fly reports.

VRNS has been the topic of a number of other reports. Morgan Stanley dropped their target price on shares of Varonis Systems from $70.00 to $68.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 30th. BidaskClub upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a report on Tuesday, December 11th. Wedbush reiterated a “hold” rating and issued a $68.00 target price on shares of Varonis Systems in a report on Tuesday, October 30th. Craig Hallum raised shares of Varonis Systems from a “hold” rating to a “buy” rating in a research report on Tuesday, January 29th. Finally, Robert W. Baird assumed coverage on shares of Varonis Systems in a research report on Thursday, October 18th. They issued an “outperform” rating and a $75.00 target price on the stock. Eight investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. Varonis Systems presently has a consensus rating of “Buy” and a consensus price target of $73.00.

NASDAQ VRNS opened at $63.96 on Tuesday. Varonis Systems has a 12 month low of $48.67 and a 12 month high of $83.10. The company has a market capitalization of $1.85 billion, a P/E ratio of -127.92 and a beta of 0.99.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 11th. The technology company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20. Varonis Systems had a negative net margin of 11.53% and a negative return on equity of 26.27%. On average, analysts predict that Varonis Systems will post -0.9 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Coe Capital Management LLC grew its position in Varonis Systems by 3.2% during the third quarter. Coe Capital Management LLC now owns 21,405 shares of the technology company’s stock valued at $1,568,000 after purchasing an additional 660 shares in the last quarter. Teachers Advisors LLC grew its position in Varonis Systems by 1.6% during the third quarter. Teachers Advisors LLC now owns 53,837 shares of the technology company’s stock valued at $3,944,000 after purchasing an additional 863 shares in the last quarter. United Services Automobile Association grew its position in Varonis Systems by 27.0% during the third quarter. United Services Automobile Association now owns 4,243 shares of the technology company’s stock valued at $311,000 after purchasing an additional 902 shares in the last quarter. Strs Ohio grew its position in Varonis Systems by 6.3% in the fourth quarter. Strs Ohio now owns 16,900 shares of the technology company’s stock worth $894,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Swiss National Bank grew its position in Varonis Systems by 2.2% in the third quarter. Swiss National Bank now owns 50,118 shares of the technology company’s stock worth $3,671,000 after acquiring an additional 1,100 shares in the last quarter. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Varonis Systems Company Profile

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.