Varonis Systems, Inc. (VRNS) Expected to Post Quarterly Sales of $66.62 Million
Wall Street analysts expect that Varonis Systems, Inc. (NASDAQ:VRNS) will announce $66.62 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for Varonis Systems’ earnings, with the lowest sales estimate coming in at $66.38 million and the highest estimate coming in at $66.85 million. Varonis Systems posted sales of $54.41 million during the same quarter last year, which suggests a positive year-over-year growth rate of 22.4%. The company is scheduled to report its next quarterly earnings results on Wednesday, February 14th.
According to Zacks, analysts expect that Varonis Systems will report full-year sales of $66.62 million for the current financial year, with estimates ranging from $206.57 million to $211.00 million. For the next year, analysts forecast that the business will report sales of $252.08 million per share, with estimates ranging from $243.76 million to $261.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. The firm had revenue of $53.60 million during the quarter, compared to the consensus estimate of $50.53 million. Varonis Systems had a negative net margin of 7.91% and a negative return on equity of 18.97%. The firm’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS.
A number of equities research analysts recently weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $44.00 price target on shares of Varonis Systems in a research report on Wednesday, October 18th. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Thursday, November 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price target (up from $44.00) on shares of Varonis Systems in a research note on Monday, September 11th. Jefferies Group LLC restated a “buy” rating and set a $45.00 target price on shares of Varonis Systems in a research report on Thursday, September 7th. Finally, Barclays PLC restated a “hold” rating and set a $45.00 target price on shares of Varonis Systems in a research report on Wednesday, July 19th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $44.90.
Varonis Systems (VRNS) traded down $1.15 during trading on Thursday, hitting $47.20. 122,197 shares of the stock traded hands, compared to its average volume of 320,741. Varonis Systems has a 1-year low of $24.75 and a 1-year high of $51.70.
In other news, CFO Guy Melamed sold 605 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $43.65, for a total value of $26,408.25. Following the transaction, the chief financial officer now owns 95,491 shares of the company’s stock, valued at approximately $4,168,182.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yakov Faitelson sold 70,842 shares of Varonis Systems stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $40.96, for a total transaction of $2,901,688.32. Following the completion of the transaction, the chief executive officer now directly owns 334,908 shares in the company, valued at approximately $13,717,831.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 465,013 shares of company stock worth $19,116,878. 19.50% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new position in Varonis Systems during the second quarter valued at approximately $122,000. Fortaleza Asset Management Inc. acquired a new stake in shares of Varonis Systems in the second quarter worth $151,000. Legal & General Group Plc lifted 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 worth $159,000 after buying an additional 1,223 shares during the last quarter. Adams Street Partners LLC acquired a new stake in shares of Varonis Systems in the second quarter worth $163,000. Finally, Van ECK Associates Corp increased its position 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. 81.96% of the stock is currently owned by hedge funds and other 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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