$50.20 Million in Sales Expected for Varonis Systems, Inc. (VRNS) This Quarter
Brokerages expect Varonis Systems, Inc. (NASDAQ:VRNS) to announce $50.20 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Varonis Systems’ earnings, with the highest sales estimate coming in at $50.70 million and the lowest estimate coming in at $49.29 million. Varonis Systems posted sales of $40.94 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 22.6%. The firm is expected to announce its next earnings report on Thursday, November 2nd.
According to Zacks, analysts expect that Varonis Systems will report full year sales of $50.20 million for the current financial year, with estimates ranging from $206.03 million to $207.00 million. For the next year, analysts expect that the company will post sales of $243.19 million per share, with estimates ranging from $236.60 million to $249.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last released its earnings results on Thursday, August 3rd. The technology company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.09. Varonis Systems had a negative return on equity of 20.94% and a negative net margin of 9.03%. The business had revenue of $50.20 million for the quarter, compared to analyst estimates of $47.50 million. During the same quarter last year, the firm posted ($0.12) earnings per share. The business’s revenue was up 30.1% compared to the same quarter last year.
VRNS has been the topic of a number of recent research reports. Needham & Company LLC initiated coverage on Varonis Systems in a research note on Monday, May 1st. They set a “buy” rating and a $38.00 price objective on the stock. Royal Bank Of Canada restated an “outperform” rating and set a $40.00 price objective (up previously from $39.00) on shares of Varonis Systems in a research note on Friday, May 5th. Stifel Nicolaus boosted their price objective on Varonis Systems from $36.00 to $40.00 and gave the stock a “buy” rating in a research note on Friday, May 5th. Barclays PLC restated a “hold” rating and set a $37.00 price objective on shares of Varonis Systems in a research note on Sunday, May 7th. Finally, Imperial Capital boosted their price objective on Varonis Systems from $35.00 to $39.00 and gave the stock an “outperform” rating in a research note on Monday, May 8th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $42.60.
In related news, CFO Guy Melamed sold 5,074 shares of the business’s stock in a transaction dated Friday, June 23rd. The stock was sold at an average price of $37.50, for a total value of $190,275.00. Following the completion of the sale, the chief financial officer now directly owns 98,991 shares of the company’s stock, valued at $3,712,162.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Yakov Faitelson sold 56,085 shares of the business’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $37.04, for a total value of $2,077,388.40. Following the completion of the sale, the chief executive officer now directly owns 397,083 shares of the company’s stock, valued at $14,707,954.32. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 326,081 shares of company stock worth $12,392,721. Corporate insiders own 19.50% of the company’s stock.
A number of hedge funds have recently made changes to their positions in VRNS. Oppenheimer Asset Management Inc. purchased a new stake in shares of Varonis Systems during the second quarter valued at $122,000. Fortaleza Asset Management Inc. purchased a new stake in shares of Varonis Systems during the second quarter valued at $151,000. Legal & General Group Plc raised its stake in shares of Varonis Systems by 39.6% in the second quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock valued at $159,000 after buying an additional 1,223 shares in the last quarter. Adams Street Partners LLC purchased a new stake in shares of Varonis Systems during the second quarter valued at $163,000. Finally, Van ECK Associates Corp raised its stake in shares of Varonis Systems by 5.9% in the second quarter. Van ECK Associates Corp now owns 5,291 shares of the technology company’s stock valued at $197,000 after buying an additional 296 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.
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Varonis Systems (NASDAQ VRNS) traded up 0.26% during mid-day trading on Friday, reaching $38.20. The company’s stock had a trading volume of 222,183 shares. The firm’s 50 day moving average price is $37.93 and its 200 day moving average price is $33.80. Varonis Systems has a 12-month low of $24.45 and a 12-month high of $40.00. The stock’s market cap is $1.05 billion.
About Varonis Systems
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Data 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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