Varonis Systems, Inc. (NASDAQ:VRNS) Issues Q3 Earnings Guidance
Varonis Systems, Inc. (NASDAQ:VRNS) updated its third quarter earnings guidance on Thursday. The company provided EPS guidance of ($0.01)-$0.00 for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.02). The company issued revenue guidance of $50.0-$50.8 million, compared to the consensus revenue estimate of $49.76 million.Varonis Systems also updated its FY17 guidance to $0.07-$0.09 EPS.
A number of equities research analysts recently issued reports on the company. BidaskClub lowered Varonis Systems from a hold rating to a sell rating in a research note on Tuesday. Jefferies Group LLC reaffirmed a buy rating and issued a $45.00 target price on shares of Varonis Systems in a research note on Friday. Stifel Nicolaus reaffirmed a buy rating and issued a $44.00 target price (up previously from $40.00) on shares of Varonis Systems in a research note on Friday. Imperial Capital upped their target price on Varonis Systems from $39.00 to $46.00 and gave the company an outperform rating in a research note on Friday. Finally, Barclays PLC upped their target price on Varonis Systems from $45.00 to $47.00 and gave the company an equal weight rating in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Varonis Systems has a consensus rating of Hold and an average target price of $40.82.
Shares of Varonis Systems, Inc. (NASDAQ:VRNS) traded up 2.66% on Friday, reaching $38.55. The company’s stock had a trading volume of 477,518 shares. The stock’s market capitalization is $1.05 billion. The stock has a 50-day moving average of $37.49 and a 200 day moving average of $32.84. Varonis Systems, Inc. has a 1-year low of $24.45 and a 1-year high of $40.00.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. Varonis Systems had a negative net margin of 10.46% and a negative return on equity of 23.33%. The company had revenue of $50.20 million for the quarter, compared to analyst estimates of $47.50 million. During the same period in the prior year, the business earned ($0.12) earnings per share. Varonis Systems’s quarterly revenue was up 30.1% on a year-over-year basis. On average, equities analysts forecast that Varonis Systems, Inc. will post $0.01 EPS for the current year.
In related news, CEO Yakov Faitelson sold 915 shares of the business’s stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $37.00, for a total transaction of $33,855.00. Following the completion of the sale, the chief executive officer now directly owns 434,489 shares of the company’s stock, valued at $16,076,093. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James O’boyle sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $35.70, for a total transaction of $1,428,000.00. Following the sale, the senior vice president now directly owns 164,189 shares of the company’s stock, valued at $5,861,547.30. The disclosure for this sale can be found here. Insiders have sold 378,436 shares of company stock worth $14,253,387 over the last quarter. 19.50% of the stock is owned by company insiders.
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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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