Varonis Systems, Inc. (VRNS) Expected to Post Earnings of -$0.01 Per Share
Wall Street brokerages expect Varonis Systems, Inc. (NASDAQ:VRNS) to announce earnings of ($0.01) per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Varonis Systems’ earnings, with estimates ranging from ($0.01) to $0.00. Varonis Systems reported earnings per share of ($0.03) during the same quarter last year, which would suggest a positive year-over-year growth rate of 66.7%. The business is scheduled to issue its next earnings report on Thursday, November 2nd.
On average, analysts expect that Varonis Systems will report full year earnings of $0.09 per share for the current year, with EPS estimates ranging from $0.08 to $0.09. For the next year, analysts anticipate that the company will report earnings of $0.22 per share, with EPS estimates ranging from $0.16 to $0.30. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last released its earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.09. The firm had revenue of $50.20 million for the quarter, compared to analyst estimates 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 revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.12) EPS.
Several analysts have issued reports on the company. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price objective (up previously from $44.00) on shares of Varonis Systems in a research note on Monday. Royal Bank Of Canada restated a “buy” rating and issued a $44.00 price objective on shares of Varonis Systems in a research note on Monday. Jefferies Group LLC restated a “buy” rating and issued a $45.00 price objective on shares of Varonis Systems in a research note on Thursday, September 7th. BidaskClub upgraded Varonis Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 16th. Finally, Needham & Company LLC upped their price objective on Varonis Systems from $43.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $43.20.
Varonis Systems (NASDAQ:VRNS) traded down 1.63% during mid-day trading on Friday, reaching $39.30. The company’s stock had a trading volume of 1,095,403 shares. The stock’s market cap is $1.08 billion. The company has a 50 day moving average of $38.18 and a 200-day moving average of $34.88. Varonis Systems has a 52-week low of $24.45 and a 52-week high of $40.15.
In other news, CEO Yakov Faitelson sold 56,085 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $37.04, for a total value of $2,077,388.40. Following the transaction, the chief executive officer now owns 397,083 shares of the company’s stock, valued at $14,707,954.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 6,562 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $39.50, for a total value of $259,199.00. Following the completion of the transaction, the chief financial officer now directly owns 104,653 shares in the company, valued at approximately $4,133,793.50. The disclosure for this sale can be found here. Insiders sold 377,231 shares of company stock worth $14,402,824 in the last ninety days. 19.50% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of VRNS. Teachers Advisors LLC grew its position in shares of Varonis Systems by 10.9% in the fourth quarter. Teachers Advisors LLC now owns 18,698 shares of the technology company’s stock valued at $501,000 after purchasing an additional 1,838 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Varonis Systems by 15.3% in the first quarter. Russell Investments Group Ltd. now owns 139,028 shares of the technology company’s stock valued at $4,421,000 after purchasing an additional 18,487 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of Varonis Systems by 192.5% in the first quarter. Wells Fargo & Company MN now owns 64,150 shares of the technology company’s stock valued at $2,040,000 after purchasing an additional 42,222 shares during the last quarter. First Trust Advisors LP acquired a new position in shares of Varonis Systems in the first quarter valued at approximately $6,936,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of Varonis Systems in the first quarter valued at approximately $286,000. 82.41% of the stock is currently owned by institutional investors.
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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