Varonis Systems, Inc. (VRNS) Issues Q4 Earnings Guidance
Varonis Systems, Inc. (NASDAQ:VRNS) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.28-0.29 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.27. The company issued revenue guidance of $65.5-67.0 million, compared to the consensus revenue estimate of $65.05 million.
Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The company had revenue of $50.20 million during the quarter, compared to the consensus estimate of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. Varonis Systems’s revenue was up 30.1% on a year-over-year basis. During the same period last year, the business posted ($0.12) earnings per share.
Several brokerages have weighed in on VRNS. Zacks Investment Research raised Varonis Systems from a hold rating to a buy rating and set a $49.00 price objective for the company in a report on Thursday. Royal Bank Of Canada reissued a buy rating and set a $44.00 price objective on shares of Varonis Systems in a report on Wednesday, October 18th. Stifel Nicolaus reissued a buy rating and set a $48.00 price objective (up from $44.00) on shares of Varonis Systems in a report on Monday, September 11th. Jefferies Group LLC reissued a buy rating and set a $45.00 price objective on shares of Varonis Systems in a report on Thursday, September 7th. Finally, BidaskClub raised Varonis Systems from a sell rating to a hold rating in a report on Wednesday, August 16th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Varonis Systems has a consensus rating of Buy and a consensus target price of $43.90.
In other news, CFO Guy Melamed sold 8,491 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $42.50, for a total value of $360,867.50. Following the completion of the transaction, the chief financial officer now directly owns 95,846 shares of the company’s stock, valued at $4,073,455. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Yakov Faitelson sold 50,000 shares of the firm’s stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $44.57, for a total value of $2,228,500.00. The disclosure for this sale can be found here. Insiders sold 465,615 shares of company stock valued at $19,092,629 over the last ninety days. Corporate insiders own 19.50% of the company’s stock.
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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, 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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