Varonis Systems (VRNS) Updates FY18 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its FY18 earnings guidance on Monday morning. The company provided earnings per share guidance of ($0.04) – $0.02 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.27. The company issued revenue guidance of $260-264.5 million, compared to the consensus revenue estimate of $250.35 million.

Several research firms have recently issued reports on VRNS. BidaskClub upgraded shares of Varonis Systems from a hold rating to a buy rating in a report on Wednesday, January 10th. Benchmark restated a buy rating and set a $60.00 price objective on shares of Varonis Systems in a report on Friday, December 1st. Needham & Company LLC boosted their price objective on shares of Varonis Systems from $52.00 to $65.00 and gave the stock a buy rating in a report on Friday, January 19th. Zacks Investment Research downgraded shares of Varonis Systems from a buy rating to a hold rating in a report on Wednesday, February 7th. Finally, Oppenheimer began coverage on shares of Varonis Systems in a report on Wednesday, December 6th. They set an outperform rating and a $57.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of Buy and an average price target of $53.36.

Varonis Systems (NASDAQ:VRNS) traded up $1.50 during midday trading on Monday, reaching $53.90. 511,552 shares of the company were exchanged, compared to its average volume of 228,760. The company has a market capitalization of $1,458.75, a PE ratio of -90.34 and a beta of 0.89. Varonis Systems has a twelve month low of $26.35 and a twelve month high of $55.85.

In other Varonis Systems news, CFO Guy Melamed sold 897 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $48.95, for a total value of $43,908.15. Following the transaction, the chief financial officer now directly owns 95,408 shares in the company, valued at $4,670,221.60. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Ohad Korkus sold 45,763 shares of the business’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $51.16, for a total transaction of $2,341,235.08. Following the completion of the transaction, the insider now owns 84,510 shares in the company, valued at $4,323,531.60. The disclosure for this sale can be found here. In the last three months, insiders sold 281,323 shares of company stock worth $14,217,536. 19.50% of the stock is currently owned by insiders.

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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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