Varonis Systems (VRNS) Announces Earnings Results

Varonis Systems (NASDAQ:VRNS) posted its quarterly earnings results on Monday. The technology company reported $0.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07, Bloomberg Earnings reports. The company had revenue of $73.20 million for the quarter, compared to the consensus estimate of $66.29 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. Varonis Systems’s revenue was up 34.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. Varonis Systems updated its FY18 guidance to ($0.04) – $0.02 EPS.

Varonis Systems (NASDAQ:VRNS) opened at $53.90 on Tuesday. Varonis Systems has a one year low of $26.35 and a one year high of $55.85.

VRNS has been the topic of a number of recent analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $44.00 price target on shares of Varonis Systems in a research note on Wednesday, October 18th. Zacks Investment Research raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Thursday, November 2nd. Jefferies Group increased their price target on shares of Varonis Systems from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 3rd. Needham & Company LLC reaffirmed a “buy” rating on shares of Varonis Systems in a research note on Friday, November 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Varonis Systems in a research note on Friday, December 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $54.45.

In other news, insider Ohad Korkus sold 48,024 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $50.26, for a total value of $2,413,686.24. Following the transaction, the insider now owns 31,872 shares of the company’s stock, valued at approximately $1,601,886.72. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 897 shares of the firm’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $48.95, for a total transaction of $43,908.15. Following the completion of the transaction, the chief financial officer now directly owns 95,408 shares in the company, valued at approximately $4,670,221.60. The disclosure for this sale can be found here. In the last three months, insiders sold 276,323 shares of company stock worth $13,977,286. Insiders own 19.50% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Varonis Systems (VRNS) Announces Earnings Results” was originally reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece can be viewed at https://www.americanbankingnews.com/2018/02/13/varonis-systems-vrns-announces-earnings-results.html.

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.

Earnings History for Varonis Systems (NASDAQ:VRNS)

Receive News & Ratings for Varonis Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varonis Systems and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply