Brokerages expect Varonis Systems Inc (NASDAQ:VRNS) to report $64.63 million in sales for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Varonis Systems’ earnings. The lowest sales estimate is $64.18 million and the highest is $65.10 million. Varonis Systems reported sales of $53.60 million in the same quarter last year, which suggests a positive year-over-year growth rate of 20.6%. The business is expected to announce its next earnings report after the market closes on Monday, October 29th.

On average, analysts expect that Varonis Systems will report full year sales of $266.82 million for the current fiscal year, with estimates ranging from $265.56 million to $267.50 million. For the next year, analysts expect that the firm will report sales of $316.18 million, with estimates ranging from $310.21 million to $326.00 million. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Varonis Systems.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings results on Monday, July 30th. The technology company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The company had revenue of $62.19 million during the quarter, compared to analysts’ expectations of $62.20 million. Varonis Systems had a negative net margin of 10.52% and a negative return on equity of 23.77%. Varonis Systems’s revenue for the quarter was up 25.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.01) earnings per share.

Several equities analysts recently commented on the company. Needham & Company LLC boosted their target price on Varonis Systems to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 17th. Barclays boosted their target price on Varonis Systems from $67.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 12th. BidaskClub upgraded Varonis Systems from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, September 5th. Jefferies Financial Group restated a “buy” rating and set a $92.00 target price on shares of Varonis Systems in a research report on Friday, July 20th. Finally, Stifel Nicolaus restated a “buy” rating and set a $75.00 target price (down from $85.00) on shares of Varonis Systems in a research report on Tuesday, July 31st. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. Varonis Systems presently has a consensus rating of “Buy” and an average price target of $73.82.

In other Varonis Systems news, CFO Guy Melamed sold 1,616 shares of Varonis Systems stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $72.86, for a total transaction of $117,741.76. Following the completion of the sale, the chief financial officer now owns 130,212 shares of the company’s stock, valued at $9,487,246.32. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Thomas F. Mendoza purchased 1,688 shares of the company’s stock in a transaction on Thursday, August 2nd. The shares were purchased at an average cost of $59.58 per share, with a total value of $100,571.04. Following the purchase, the director now owns 22,511 shares of the company’s stock, valued at $1,341,205.38. The disclosure for this purchase can be found here. Insiders own 4.20% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its stake in Varonis Systems by 11.8% during the second quarter. BlackRock Inc. now owns 1,970,923 shares of the technology company’s stock worth $146,835,000 after purchasing an additional 207,953 shares during the last quarter. FMR LLC lifted its stake in shares of Varonis Systems by 23.3% in the 2nd quarter. FMR LLC now owns 889,319 shares of the technology company’s stock valued at $66,255,000 after acquiring an additional 167,869 shares during the last quarter. Emerald Advisers Inc. PA lifted its stake in shares of Varonis Systems by 1.4% in the 2nd quarter. Emerald Advisers Inc. PA now owns 708,319 shares of the technology company’s stock valued at $52,770,000 after acquiring an additional 9,610 shares during the last quarter. Emerald Mutual Fund Advisers Trust lifted its stake in shares of Varonis Systems by 3.2% in the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 605,440 shares of the technology company’s stock valued at $45,105,000 after acquiring an additional 18,748 shares during the last quarter. Finally, OppenheimerFunds Inc. lifted its stake in shares of Varonis Systems by 12.6% in the 2nd quarter. OppenheimerFunds Inc. now owns 565,230 shares of the technology company’s stock valued at $42,110,000 after acquiring an additional 63,119 shares during the last quarter. 82.18% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ VRNS opened at $64.08 on Friday. The firm has a market capitalization of $1.92 billion, a PE ratio of -129.84 and a beta of 0.74. Varonis Systems has a fifty-two week low of $41.75 and a fifty-two week high of $83.10.

About Varonis Systems

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.

Featured Story: What are CEFs?

Get a free copy of the Zacks research report on Varonis Systems (VRNS)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.