Varonis Systems (VRNS) Price Target Lowered to $55.00 at Wedbush

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Varonis Systems (NASDAQ:VRNS) had its price objective cut by stock analysts at Wedbush from $68.00 to $55.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The firm currently has a “neutral” rating on the technology company’s stock. Wedbush’s price target would suggest a potential upside of 0.64% from the stock’s previous close.

A number of other equities research analysts also recently weighed in on VRNS. Robert W. Baird restated a “buy” rating and issued a $60.00 target price (down from $75.00) on shares of Varonis Systems in a research report on Tuesday. Royal Bank of Canada cut their target price on Varonis Systems from $80.00 to $65.00 and set an “outperform” rating for the company in a research report on Tuesday. Oppenheimer cut their target price on Varonis Systems from $80.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday. Stifel Nicolaus downgraded Varonis Systems from a “buy” rating to a “hold” rating and cut their price objective for the company from $75.00 to $52.00 in a research report on Tuesday. Finally, Benchmark downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Varonis Systems currently has a consensus rating of “Buy” and a consensus target price of $67.48.

VRNS opened at $54.65 on Tuesday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of -109.30 and a beta of 0.99. Varonis Systems has a 1-year low of $48.67 and a 1-year high of $83.10.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 11th. The technology company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11. The firm had revenue of $87.52 million during the quarter, compared to the consensus estimate of $87.33 million. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. Equities analysts predict that Varonis Systems will post -0.9 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. First Manhattan Co. lifted its position in shares of Varonis Systems by 412.1% during the 3rd quarter. First Manhattan Co. now owns 8,015 shares of the technology company’s stock valued at $587,000 after acquiring an additional 6,450 shares during the last quarter. Credit Suisse AG lifted its holdings in shares of Varonis Systems by 19.9% in the third quarter. Credit Suisse AG now owns 883,279 shares of the technology company’s stock valued at $64,701,000 after purchasing an additional 146,311 shares in the last quarter. Chartwell Investment Partners LLC lifted its holdings in shares of Varonis Systems by 2.2% in the fourth quarter. Chartwell Investment Partners LLC now owns 70,163 shares of the technology company’s stock valued at $3,712,000 after purchasing an additional 1,481 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Varonis Systems by 14.4% in the third quarter. AQR Capital Management LLC now owns 95,341 shares of the technology company’s stock valued at $6,984,000 after purchasing an additional 12,015 shares in the last quarter. Finally, Morgens Waterfall Vintiadis & Co. Inc. lifted its holdings in shares of Varonis Systems by 5.6% in the third quarter. Morgens Waterfall Vintiadis & Co. Inc. now owns 45,000 shares of the technology company’s stock valued at $3,296,000 after purchasing an additional 2,400 shares in the last quarter. Institutional investors own 83.75% of the company’s stock.

About Varonis Systems

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.

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