Analysts expect Varonis Systems Inc (NASDAQ:VRNS) to post $62.37 million in sales for the current fiscal quarter, according to Zacks Investment Research. 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 firm is expected to report its next quarterly earnings results on Monday, July 29th.
On average, analysts expect that Varonis Systems will report full-year sales of $278.14 million for the current financial year, with estimates ranging from $273.30 million to $300.00 million. For the next financial year, analysts anticipate that the firm will report sales of $307.06 million, with estimates ranging from $291.77 million to $348.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.64) by ($0.04). The business had revenue of $56.40 million for the quarter, compared to analysts’ expectations of $59.36 million. Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. The business’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.22) earnings per share.
VRNS has been the topic of several recent analyst reports. Stifel Nicolaus raised their price objective on shares of Varonis Systems from $52.00 to $70.00 and gave the company a “hold” rating in a research report on Tuesday, April 30th. UBS Group raised their price objective on shares of Varonis Systems from $68.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, April 30th. DA Davidson raised their price objective on shares of Varonis Systems to $78.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. BidaskClub downgraded shares of Varonis Systems from a “buy” rating to a “hold” rating in a research report on Friday, April 19th. Finally, Morgan Stanley lifted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the company an “equal weight” rating in a report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $71.52.
Shares of VRNS stock traded down $0.28 on Thursday, hitting $68.34. 155,070 shares of the stock traded hands, compared to its average volume of 444,119. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of -69.73 and a beta of 1.02. Varonis Systems has a 52 week low of $48.67 and a 52 week high of $83.10.
In related news, EVP David Bass sold 42,416 shares of Varonis Systems stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $72.54, for a total value of $3,076,856.64. Following the transaction, the executive vice president now directly owns 202,833 shares in the company, valued at approximately $14,713,505.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the business. Psagot Investment House Ltd. boosted its position in shares of Varonis Systems by 32.0% during the 4th quarter. Psagot Investment House Ltd. now owns 1,061 shares of the technology company’s stock worth $56,000 after purchasing an additional 257 shares in the last quarter. Wealthcare Advisory Partners LLC purchased a new stake in shares of Varonis Systems during the 1st quarter worth $83,000. Cresset Asset Management LLC purchased a new stake in shares of Varonis Systems during the 1st quarter worth $115,000. NumerixS Investment Technologies Inc boosted its position in shares of Varonis Systems by 257.1% during the 4th quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock worth $133,000 after purchasing an additional 1,800 shares in the last quarter. Finally, Northeast Financial Consultants Inc purchased a new stake in shares of Varonis Systems during the 1st quarter worth $209,000. 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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