Barclays Lowers Varonis Systems Price Target to $32.00 (VRNS)

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Research analysts at Barclays reduced their target price on shares of Varonis Systems (NASDAQ:VRNS) from $42.00 to $32.00 in a report released on Friday. Barclays’ price target points to a potential upside of 27.85% from the company’s current price.

Shares of Varonis Systems (NASDAQ:VRNS) opened at 25.03 on Friday. Varonis Systems has a 1-year low of $19.69 and a 1-year high of $56.80. The stock has a 50-day moving average of $25.86 and a 200-day moving average of $32.74. The company’s market cap is $612.1 million.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings data on Monday, May 5th. The company reported ($0.30) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.14. The company had revenue of $17.50 million for the quarter, compared to the consensus estimate of $16.17 million. The company’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, analysts predict that Varonis Systems will post $-0.59 earnings per share for the current fiscal year.

A number of other analysts have also recently weighed in on VRNS. Analysts at Imperial Capital cut their price target on shares of Varonis Systems from $35.00 to $30.00 in a research note on Monday, May 12th. They now have an “outperform” rating on the stock. Separately, analysts at Needham & Company LLC cut their price target on shares of Varonis Systems from $48.00 to $45.00 in a research note on Tuesday, May 6th. Finally, analysts at RBC Capital cut their price target on shares of Varonis Systems from $50.00 to $43.00 in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $37.60.

Varonis Systems, Inc (NASDAQ:VRNS) provides software platform that allows enterprises to map, analyze, manage and migrate their unstructured data.

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