$50.20 Million in Sales Expected for Varonis Systems Inc (VRNS) This Quarter
Equities analysts expect that Varonis Systems Inc (NASDAQ:VRNS) will announce $50.20 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Varonis Systems’ earnings. The lowest sales estimate is $49.29 million and the highest is $50.70 million. Varonis Systems reported sales of $40.94 million during the same quarter last year, which would suggest a positive year over year growth rate of 22.6%. The company is expected to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Varonis Systems will report full-year sales of $50.20 million for the current financial year, with estimates ranging from $206.03 million to $207.00 million. For the next financial year, analysts forecast that the firm will post sales of $243.19 million per share, with estimates ranging from $236.60 million to $249.00 million. Zacks’ sales calculations are an average based on a survey of analysts that follow Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 10.04% and a negative return on equity of 25.01%. The firm had revenue of $50.20 million for the quarter, compared to analyst estimates of $47.50 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The company’s quarterly revenue was up 30.1% compared to the same quarter last year.
Several equities research analysts have recently weighed in on the company. Barclays PLC upped their price target on Varonis Systems from $45.00 to $47.00 and gave the company an “equal weight” rating in a research report on Friday, August 4th. Zacks Investment Research cut Varonis Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. Jefferies Group LLC reiterated a “buy” rating and set a $45.00 price target (up from $41.00) on shares of Varonis Systems in a research report on Friday, August 4th. ValuEngine upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Morgan Stanley upgraded Varonis Systems from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $24.00 to $35.00 in a research report on Wednesday, June 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.60.
Shares of Varonis Systems (NASDAQ VRNS) opened at 35.85 on Monday. The firm’s 50-day moving average is $37.69 and its 200 day moving average is $33.21. Varonis Systems has a 52-week low of $24.45 and a 52-week high of $40.00. The company’s market capitalization is $986.02 million.
In other news, Director Gili Iohan sold 12,382 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $36.49, for a total transaction of $451,819.18. Following the completion of the transaction, the director now owns 62,450 shares of the company’s stock, valued at $2,278,800.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yakov Faitelson sold 915 shares of the business’s stock in a transaction dated Friday, May 26th. The stock was sold at an average price of $37.00, for a total value of $33,855.00. Following the transaction, the chief executive officer now directly owns 434,489 shares of the company’s stock, valued at approximately $16,076,093. The disclosure for this sale can be found here. Insiders have sold 344,998 shares of company stock valued at $13,084,586 in the last three months. 19.50% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. raised its position in shares of Varonis Systems by 8.5% in the first quarter. Eagle Asset Management Inc. now owns 251,301 shares of the technology company’s stock valued at $7,991,000 after buying an additional 19,710 shares during the last quarter. Teza Capital Management LLC acquired a new position in shares of Varonis Systems during the first quarter valued at approximately $223,000. UBS Asset Management Americas Inc. acquired a new position in shares of Varonis Systems during the first quarter valued at approximately $2,934,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Varonis Systems during the first quarter valued at approximately $286,000. Finally, First Trust Advisors LP acquired a new position in shares of Varonis Systems during the first quarter valued at approximately $6,936,000. 64.93% of the stock is owned by institutional investors.
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Varonis Systems Company Profile
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Data Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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