Analysts Anticipate Varonis Systems, Inc. (VRNS) Will Announce Earnings of -$0.01 Per Share
Wall Street brokerages expect Varonis Systems, Inc. (NASDAQ:VRNS) to report earnings of ($0.01) per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for Varonis Systems’ earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.00. Varonis Systems posted earnings of ($0.03) per share in the same quarter last year, which indicates a positive year over year growth rate of 66.7%. The company is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Varonis Systems will report full year earnings of $0.09 per share for the current financial year, with EPS estimates ranging from $0.08 to $0.09. For the next financial year, analysts forecast that the firm will report earnings of $0.22 per share, with EPS estimates ranging from $0.16 to $0.30. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that that provide coverage for Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The company had revenue of $50.20 million for the quarter, compared to the consensus estimate of $47.50 million. During the same period last year, the business posted ($0.12) EPS. The company’s revenue was up 30.1% on a year-over-year basis.
Several research analysts recently commented on the company. Zacks Investment Research raised Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 price objective for the company in a research note on Thursday, August 10th. Jefferies Group LLC reissued a “buy” rating and issued a $45.00 price objective on shares of Varonis Systems in a research note on Thursday. BidaskClub downgraded Varonis Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. Needham & Company LLC increased their price objective on Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $44.00 price objective (up from $40.00) on shares of Varonis Systems in a research note on Friday, August 4th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Varonis Systems currently has an average rating of “Buy” and a consensus target price of $42.60.
In other Varonis Systems news, CFO Guy Melamed sold 5,074 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $37.50, for a total value of $190,275.00. Following the completion of the sale, the chief financial officer now directly owns 98,991 shares in the company, valued at approximately $3,712,162.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Gili Iohan sold 7,618 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $37.00, for a total value of $281,866.00. Following the completion of the sale, the director now owns 60,017 shares of the company’s stock, valued at $2,220,629. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 327,231 shares of company stock valued at $12,436,824. 19.50% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of VRNS. Oppenheimer Asset Management Inc. purchased a new stake in Varonis Systems in the 2nd quarter valued at $122,000. Fortaleza Asset Management Inc. purchased a new stake in Varonis Systems in the 2nd quarter valued at $151,000. Legal & General Group Plc grew its holdings in Varonis Systems by 39.6% in the 2nd quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after buying an additional 1,223 shares in the last quarter. Adams Street Partners LLC purchased a new stake in Varonis Systems in the 2nd quarter valued at $163,000. Finally, Van ECK Associates Corp grew its holdings in Varonis Systems by 5.9% in the 2nd quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after buying an additional 296 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.
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Shares of Varonis Systems (NASDAQ VRNS) traded up 1.41% on Friday, hitting $39.45. The company’s stock had a trading volume of 321,711 shares. Varonis Systems has a 1-year low of $24.45 and a 1-year high of $40.00. The firm’s market cap is $1.09 billion. The company has a 50 day moving average of $38.00 and a 200 day moving average of $34.46.
About Varonis Systems
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit 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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