Brokerages Anticipate Varonis Systems, Inc. (VRNS) Will Post Quarterly Sales of $50.51 Million
Wall Street brokerages predict that Varonis Systems, Inc. (NASDAQ:VRNS) will post sales of $50.51 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Varonis Systems’ earnings, with the lowest sales estimate coming in at $50.41 million and the highest estimate coming in at $50.70 million. Varonis Systems reported sales of $40.94 million in the same quarter last year, which indicates a positive year over year growth rate of 23.4%. The firm is scheduled to announce its next earnings results on Thursday, November 2nd.
On average, analysts expect that Varonis Systems will report full year sales of $50.51 million for the current year, with estimates ranging from $206.03 million to $207.00 million. For the next financial year, analysts anticipate that the business will post sales of $243.19 million per share, with estimates ranging from $236.60 million to $249.00 million. Zacks’ sales averages are an average based on a survey of analysts that follow Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last announced its earnings results on Thursday, August 3rd. The technology company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million during the quarter, compared to analysts’ expectations of $47.50 million. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The company’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.12) EPS.
Several equities research analysts have issued reports on VRNS shares. Zacks Investment Research raised Varonis Systems from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a research note on Thursday, August 10th. Royal Bank Of Canada restated a “buy” rating and set a $44.00 price target on shares of Varonis Systems in a research report on Monday. BidaskClub lowered Varonis Systems from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and issued a $45.00 target price (up from $41.00) on shares of Varonis Systems in a report on Friday, August 4th. Finally, Needham & Company LLC lifted their target price on Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $43.20.
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Shares of Varonis Systems (NASDAQ VRNS) traded down 1.63% during trading on Tuesday, hitting $39.30. The stock had a trading volume of 1,095,403 shares. The firm’s 50-day moving average is $38.18 and its 200 day moving average is $34.88. The firm’s market cap is $1.08 billion. Varonis Systems has a 52-week low of $24.45 and a 52-week high of $40.15.
In other Varonis Systems news, Director Gili Iohan sold 50,000 shares of the company’s stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $39.32, for a total value of $1,966,000.00. Following the completion of the transaction, the director now directly owns 59,650 shares of the company’s stock, valued at approximately $2,345,438. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Ohad Korkus sold 57,938 shares of the company’s stock in a transaction dated Wednesday, July 19th. The shares were sold at an average price of $39.04, for a total transaction of $2,261,899.52. Following the completion of the transaction, the insider now directly owns 214,108 shares of the company’s stock, valued at $8,358,776.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 377,231 shares of company stock valued at $14,402,824. Insiders own 19.50% of the company’s stock.
A number of large investors have recently bought and sold shares of VRNS. Oppenheimer Asset Management Inc. bought a new position in shares of Varonis Systems during the second quarter worth about $122,000. Fortaleza Asset Management Inc. acquired a new stake in Varonis Systems during the second quarter worth about $151,000. Legal & General Group Plc raised its stake in Varonis Systems by 39.6% during the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after acquiring an additional 1,223 shares during the period. Adams Street Partners LLC acquired a new stake in Varonis Systems during the second quarter worth about $163,000. Finally, Van ECK Associates Corp raised its stake in Varonis Systems by 5.9% during the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock worth $197,000 after acquiring an additional 296 shares during the period. 82.41% of the stock is owned by institutional investors.
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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