Versant (NASDAQ:VSNT) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Versant from “strong buy” to “hold,” contributing to a broader analyst consensus of “hold.” Seven analysts rate the stock a hold and one rates it a buy, with a consensus price target of $43.20.
• Versant shares opened at $39.49, while analysts’ target prices ranged from $39 to $46. The stock has traded between $27.17 and $59.00 over the past year and has a market capitalization of approximately $5.48 billion.
• Versant reported quarterly EPS of $1.49, beating expectations of $1.39, on revenue of $1.64 billion. Several hedge funds also initiated small positions in the company during the first quarter.

Versant (NASDAQ:VSNT - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday,Zacks.com reports.

Several other research firms also recently weighed in on VSNT. The Goldman Sachs Group boosted their target price on Versant from $37.00 to $42.00 and gave the company a "neutral" rating in a research report on Thursday, May 14th. TD Cowen lifted their price objective on shares of Versant from $35.00 to $39.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Arete Research upgraded shares of Versant from a "sell" rating to a "neutral" rating and set a $40.00 price objective on the stock in a research report on Friday, July 17th. Seaport Research Partners reissued a "buy" rating and issued a $46.00 target price on shares of Versant in a research note on Monday, May 18th. Finally, Weiss Ratings downgraded shares of Versant from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $43.20.

Versant Stock Performance

Versant stock opened at $39.49 on Monday. The company's 50-day moving average price is $37.19 and its 200-day moving average price is $37.15. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.35. The company has a market cap of $5.48 billion and a PE ratio of 11.35. Versant has a twelve month low of $27.17 and a twelve month high of $59.00.

Versant (NASDAQ:VSNT - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.39 by $0.10. The company had revenue of $1.64 billion during the quarter. On average, equities research analysts forecast that Versant will post 4.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Versant

Several hedge funds have recently bought and sold shares of the business. Citizens National Bank Trust Department purchased a new stake in shares of Versant during the first quarter valued at $26,000. Root Financial Partners LLC bought a new stake in Versant during the 1st quarter valued at about $28,000. Parallel Advisors LLC purchased a new stake in Versant in the 1st quarter valued at about $32,000. Advocate Investing Services LLC purchased a new stake in Versant in the 1st quarter valued at about $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new position in Versant in the 1st quarter worth about $35,000.

About Versant

Versant Corporation is a provider of data management software. The Company designs, develops, markets and supports database management system products that companies use to solve data management and data integration issues. It also provides related product support, training and consulting services to assist users of the Company's products in developing and deploying software applications based on its products. The Company's Versant Object Database product is used primarily by enterprises, which have data management requirements, such as technology providers, telecommunications carriers, Government defense agencies, defense contractors, healthcare companies and companies in the financial services and transportation industries.

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