Equities analysts predict that Varonis Systems Inc (NASDAQ:VRNS) will report sales of $62.37 million for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Varonis Systems’ earnings. The lowest sales estimate is $62.00 million and the highest is $62.80 million. Varonis Systems posted sales of $62.19 million in the same quarter last year, which suggests a positive year-over-year growth rate of 0.3%. The business is expected to announce its next earnings report on Monday, July 29th.
On average, analysts expect that Varonis Systems will report full year sales of $278.14 million for the current fiscal year, with estimates ranging from $273.30 million to $300.00 million. For the next fiscal year, analysts expect that the business will post sales of $307.06 million, with estimates ranging from $291.77 million to $348.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.04). Varonis Systems had a negative return on equity of 30.00% and a negative net margin of 13.24%. The firm had revenue of $56.40 million during the quarter, compared to analyst estimates of $59.36 million. During the same period in the previous year, the company earned ($0.22) earnings per share. The business’s revenue for the quarter was up 5.4% on a year-over-year basis.
Several brokerages have weighed in on VRNS. Zacks Investment Research raised Varonis Systems from a “sell” rating to a “hold” rating in a research report on Thursday. BidaskClub raised Varonis Systems from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. DA Davidson upped their target price on Varonis Systems to $78.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Jefferies Financial Group upped their target price on Varonis Systems from $73.00 to $77.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Finally, Stifel Nicolaus upped their target price on Varonis Systems from $52.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, April 30th. Seven analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $71.52.
VRNS stock traded down $2.53 during mid-day trading on Thursday, hitting $70.23. The stock had a trading volume of 217,530 shares, compared to its average volume of 448,845. Varonis Systems has a 1-year low of $48.67 and a 1-year high of $83.10. The firm has a market cap of $2.12 billion, a P/E ratio of -71.66 and a beta of 1.02.
In other news, EVP David Bass sold 42,416 shares of the company’s stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the completion of the sale, the executive vice president now owns 202,833 shares in the company, valued at approximately $14,713,505.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.80% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Varonis Systems by 81.3% during the 1st quarter. FMR LLC now owns 1,388,442 shares of the technology company’s stock worth $82,793,000 after acquiring an additional 622,639 shares in the last quarter. Summit Trail Advisors LLC bought a new stake in shares of Varonis Systems during the 1st quarter worth about $1,134,000. Jane Street Group LLC boosted its stake in shares of Varonis Systems by 367.4% during the 1st quarter. Jane Street Group LLC now owns 27,876 shares of the technology company’s stock worth $1,662,000 after acquiring an additional 21,912 shares in the last quarter. North Run Capital LP bought a new stake in shares of Varonis Systems during the 1st quarter worth about $11,479,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Varonis Systems by 33.5% during the 1st quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,906 shares of the technology company’s stock worth $292,000 after acquiring an additional 1,231 shares in the last quarter. Institutional investors own 83.99% of the company’s stock.
About Varonis Systems
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.
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