Equities research analysts predict that Varonis Systems Inc (NASDAQ:VRNS) will report $66.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Varonis Systems’ earnings, with the highest sales estimate coming in at $66.85 million and the lowest estimate coming in at $66.38 million. Varonis Systems reported sales of $54.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.3%. The business is expected to issue its next earnings results after the market closes on Monday, February 12th.

According to Zacks, analysts expect that Varonis Systems will report full year sales of $66.54 million for the current year, with estimates ranging from $210.40 million to $211.00 million. For the next fiscal year, analysts forecast that the business will post sales of $252.28 million per share, with estimates ranging from $243.76 million to $261.00 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Varonis Systems.

Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The company’s revenue for the quarter was up 31.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) earnings per share.

A number of brokerages have recently issued reports on VRNS. BidaskClub upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Zacks Investment Research downgraded Varonis Systems from a “buy” rating to a “hold” rating in a report on Saturday, January 6th. Stephens reaffirmed a “buy” rating and set a $58.00 price target on shares of Varonis Systems in a report on Friday, January 12th. Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 price target on shares of Varonis Systems in a report on Wednesday, October 18th. Finally, Needham & Company LLC reaffirmed a “buy” rating on shares of Varonis Systems in a report on Friday, November 3rd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $50.45.

In other Varonis Systems news, CFO Guy Melamed sold 897 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total value of $43,908.15. Following the completion of the sale, the chief financial officer now owns 95,408 shares of the company’s stock, valued at $4,670,221.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO Ohad Korkus sold 9,277 shares of the firm’s stock in a transaction on Friday, November 24th. The shares were sold at an average price of $51.28, for a total value of $475,724.56. Following the completion of the sale, the chief technology officer now directly owns 84,510 shares of the company’s stock, valued at approximately $4,333,672.80. The disclosure for this sale can be found here. In the last three months, insiders sold 287,384 shares of company stock valued at $14,505,934. 19.50% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Van ECK Associates Corp lifted its holdings in Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after acquiring an additional 296 shares during the period. Legal & General Group Plc lifted its holdings in Varonis Systems by 39.6% in the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after acquiring an additional 1,223 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in Varonis Systems in the second quarter valued at $122,000. Swiss National Bank increased its position in shares of Varonis Systems by 16.6% in the second quarter. Swiss National Bank now owns 24,618 shares of the technology company’s stock valued at $916,000 after buying an additional 3,500 shares in the last quarter. Finally, New York State Common Retirement Fund increased its position in shares of Varonis Systems by 9.5% in the third quarter. New York State Common Retirement Fund now owns 41,740 shares of the technology company’s stock valued at $1,749,000 after buying an additional 3,620 shares in the last quarter. 84.46% of the stock is owned by institutional investors.

Varonis Systems (NASDAQ:VRNS) opened at $52.90 on Thursday. The stock has a market cap of $1,430.00, a P/E ratio of -91.21 and a beta of 0.80. Varonis Systems has a 1 year low of $25.20 and a 1 year high of $53.85.

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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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