Varonis Systems (NASDAQ:VRNS) Sets New 12-Month Low - What's Next?

Varonis Systems, Inc. (NASDAQ:VRNS - Get Free Report) hit a new 52-week low on Friday . The stock traded as low as $37.81 and last traded at $38.36, with a volume of 2294460 shares changing hands. The stock had previously closed at $40.48.

Analyst Ratings Changes

VRNS has been the subject of a number of recent analyst reports. Cantor Fitzgerald started coverage on Varonis Systems in a report on Thursday, January 9th. They issued an "overweight" rating and a $60.00 price objective for the company. Citigroup decreased their price target on shares of Varonis Systems from $57.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, January 17th. DA Davidson dropped their price objective on Varonis Systems from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Thursday, December 12th. Needham & Company LLC reissued a "buy" rating and set a $67.00 target price on shares of Varonis Systems in a research note on Wednesday, February 5th. Finally, Wolfe Research upgraded shares of Varonis Systems from a "peer perform" rating to an "outperform" rating and set a $50.00 price target for the company in a report on Friday, March 28th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $58.53.

Varonis Systems Price Performance

The business has a fifty day moving average of $41.72 and a two-hundred day moving average of $47.38. 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 firm has a market capitalization of $4.51 billion, a price-to-earnings ratio of -46.79 and a beta of 0.76.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Tuesday, February 4th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 predict that Varonis Systems, Inc. will post -0.83 EPS for the current fiscal year.

Varonis Systems declared that its board has authorized a stock repurchase program on Monday, February 10th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the technology company to reacquire up to 2.1% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Varonis Systems

A number of institutional investors have recently modified their holdings of the business. Quarry LP acquired a new position in shares of Varonis Systems during the 4th quarter worth approximately $36,000. Johnson Financial Group Inc. acquired a new stake in shares of Varonis Systems during the 4th quarter worth $61,000. Transce3nd LLC bought a new position in shares of Varonis Systems in the fourth quarter worth $62,000. New Age Alpha Advisors LLC acquired a new stake in Varonis Systems during the fourth quarter worth about $70,000. Finally, NBC Securities Inc. increased its holdings in Varonis Systems by 100,200.0% in the 1st quarter. NBC Securities Inc. now owns 2,006 shares of the technology company's stock valued at $81,000 after buying an additional 2,004 shares during the period. 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.