Varonis Systems (VRNS) Posts Earnings Results, Beats Estimates By $0.11 EPS

Varonis Systems (NASDAQ:VRNS) posted its quarterly earnings data on Monday. The technology company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.11, Morningstar.com reports. Varonis Systems had a negative return on equity of 26.27% and a negative net margin of 11.53%. Varonis Systems updated its Q1 2019 guidance to $-0.38–0.36 EPS and its FY 2019 guidance to $0.04-0.16 EPS.

Shares of VRNS opened at $63.96 on Tuesday. Varonis Systems has a 12-month low of $48.67 and a 12-month high of $83.10. The stock has a market cap of $1.85 billion, a P/E ratio of -127.92 and a beta of 0.99.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Coe Capital Management LLC increased its stake in Varonis Systems by 3.2% during the third quarter. Coe Capital Management LLC now owns 21,405 shares of the technology company’s stock valued at $1,568,000 after acquiring an additional 660 shares during the period. Teachers Advisors LLC increased its stake in Varonis Systems by 1.6% during the third quarter. Teachers Advisors LLC now owns 53,837 shares of the technology company’s stock valued at $3,944,000 after acquiring an additional 863 shares during the period. United Services Automobile Association increased its stake in Varonis Systems by 27.0% during the third quarter. United Services Automobile Association now owns 4,243 shares of the technology company’s stock valued at $311,000 after acquiring an additional 902 shares during the period. Strs Ohio increased its stake in Varonis Systems by 6.3% during the fourth quarter. Strs Ohio now owns 16,900 shares of the technology company’s stock valued at $894,000 after acquiring an additional 1,000 shares during the period. Finally, Swiss National Bank increased its stake in Varonis Systems by 2.2% during the third quarter. Swiss National Bank now owns 50,118 shares of the technology company’s stock valued at $3,671,000 after acquiring an additional 1,100 shares during the period. Hedge funds and other institutional investors own 83.75% of the company’s stock.

A number of research firms have recently commented on VRNS. Robert W. Baird began coverage on Varonis Systems in a research note on Thursday, October 18th. They issued an “outperform” rating and a $75.00 price objective on the stock. Morgan Stanley set a $70.00 price objective on Varonis Systems and gave the stock a “hold” rating in a research note on Friday, October 19th. Wedbush began coverage on Varonis Systems in a research note on Thursday, October 18th. They issued a “neutral” rating and a $65.00 price objective on the stock. Craig Hallum lowered Varonis Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, Benchmark lowered Varonis Systems from a “buy” rating to a “hold” rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $72.06.

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Varonis Systems Company Profile

Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.

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Earnings History for Varonis Systems (NASDAQ:VRNS)

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