Morgan Stanley Initiates Coverage on Varonis Systems (NASDAQ:VRNS)

Stock analysts at Morgan Stanley assumed coverage on shares of Varonis Systems (NASDAQ:VRNS) in a report issued on Tuesday. The brokerage set an “overweight” rating on the technology company’s stock.

VRNS has been the topic of a number of other reports. Piper Sandler dropped their target price on shares of Varonis Systems from $55.00 to $50.00 and set a “neutral” rating on the stock in a research note on Monday, January 6th. Needham & Company LLC reissued a “buy” rating and issued a $67.00 price objective on shares of Varonis Systems in a report on Wednesday, February 5th. DA Davidson dropped their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, December 12th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They set an “overweight” rating and a $60.00 target price for the company. Finally, Wells Fargo & Company lowered their target price on shares of Varonis Systems from $48.00 to $46.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and an average target price of $59.38.

Varonis Systems Stock Down 0.5 %

VRNS traded down $0.21 during mid-day trading on Tuesday, reaching $41.24. 39,802 shares of the stock were exchanged, compared to its average volume of 1,761,345. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.24 and a current ratio of 1.24. The stock has a market capitalization of $4.64 billion, a PE ratio of -47.95 and a beta of 0.85. The company has a 50 day moving average price of $43.28 and a two-hundred day moving average price of $49.05. Varonis Systems has a 1 year low of $39.10 and a 1 year high of $60.58.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Tuesday, February 4th. The technology company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.24). Varonis Systems had a negative return on equity of 20.35% and a negative net margin of 17.38%. As a group, research analysts anticipate that Varonis Systems will post -0.83 EPS for the current year.

Varonis Systems declared that its board has initiated a stock buyback plan on Monday, February 10th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the technology company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Varonis Systems

Several large investors have recently added to or reduced their stakes in VRNS. Tower Research Capital LLC TRC increased its stake in shares of Varonis Systems by 7.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,340 shares of the technology company’s stock valued at $193,000 after purchasing an additional 298 shares in the last quarter. Teza Capital Management LLC boosted its holdings in Varonis Systems by 3.1% in the fourth quarter. Teza Capital Management LLC now owns 9,840 shares of the technology company’s stock worth $437,000 after acquiring an additional 299 shares in the last quarter. Virtue Capital Management LLC grew its stake in shares of Varonis Systems by 2.3% in the third quarter. Virtue Capital Management LLC now owns 16,264 shares of the technology company’s stock worth $919,000 after acquiring an additional 364 shares during the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of Varonis Systems by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 11,534 shares of the technology company’s stock valued at $512,000 after acquiring an additional 365 shares in the last quarter. Finally, Bailard Inc. grew its position in Varonis Systems by 0.4% during the 4th quarter. Bailard Inc. now owns 93,627 shares of the technology company’s stock valued at $4,160,000 after purchasing an additional 417 shares during the last quarter. Institutional investors own 95.65% of the company’s stock.

Varonis Systems Company Profile

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.