Analysts predict that Varonis Systems Inc (NASDAQ:VRNS) will report earnings per share of $0.29 for the current quarter, Zacks reports. Three analysts have made estimates for Varonis Systems’ earnings. The highest EPS estimate is $0.30 and the lowest is $0.28. Varonis Systems posted earnings of $0.24 per share in the same quarter last year, which would suggest a positive year over year growth rate of 20.8%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, February 12th.
On average, analysts expect that Varonis Systems will report full year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from $0.09 to $0.17. For the next fiscal year, analysts forecast that the firm will post earnings of $0.28 per share, with EPS estimates ranging from $0.18 to $0.35. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported $0.06 earnings per share for the quarter. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The firm had revenue of $53.60 million during the quarter, compared to analysts’ expectations of $50.53 million. During the same period last year, the firm posted ($0.03) EPS. The business’s revenue was up 31.1% on a year-over-year basis.
VRNS has been the subject of a number of recent analyst reports. Oppenheimer reaffirmed a “buy” rating and set a $57.00 price target on shares of Varonis Systems in a report on Wednesday, December 13th. Royal Bank of Canada reaffirmed a “buy” rating and set a $55.00 price target on shares of Varonis Systems in a report on Thursday, December 7th. Stephens reaffirmed a “buy” rating and set a $58.00 price target on shares of Varonis Systems in a report on Friday, January 12th. BidaskClub raised Varonis Systems from a “hold” rating to a “buy” rating in a report on Wednesday, January 10th. Finally, Benchmark reaffirmed a “buy” rating and set a $60.00 price target on shares of Varonis Systems in a report on Friday, December 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Varonis Systems presently has a consensus rating of “Buy” and an average price target of $52.27.
In other Varonis Systems news, CEO Yakov Faitelson sold 46,569 shares of the stock in a transaction on Tuesday, November 28th. The stock was sold at an average price of $51.16, for a total value of $2,382,470.04. Following the transaction, the chief executive officer now directly owns 211,572 shares in the company, valued at approximately $10,824,023.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Ohad Korkus sold 9,277 shares of the stock in a transaction on Friday, November 24th. The shares were sold at an average price of $51.28, for a total value of $475,724.56. Following the completion of the transaction, the chief technology officer now owns 84,510 shares in the company, valued at $4,333,672.80. The disclosure for this sale can be found here. Insiders sold a total of 287,384 shares of company stock worth $14,505,934 over the last quarter. Corporate insiders own 19.50% of the company’s stock.
Several large investors have recently bought and sold shares of VRNS. Schwab Charles Investment Management Inc. boosted its position in shares of Varonis Systems by 31.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,046 shares of the technology company’s stock worth $2,495,000 after purchasing an additional 15,899 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Varonis Systems by 80.4% in the 2nd quarter. Rhumbline Advisers now owns 20,938 shares of the technology company’s stock worth $779,000 after purchasing an additional 9,330 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Varonis Systems by 54.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 352,958 shares of the technology company’s stock worth $13,129,000 after purchasing an additional 125,001 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Varonis Systems by 39.6% in the 2nd quarter. Legal & General Group Plc now owns 4,308 shares of the technology company’s stock worth $159,000 after purchasing an additional 1,223 shares during the last quarter. Finally, Swiss National Bank boosted its position in shares of Varonis Systems by 16.6% in the 2nd quarter. Swiss National Bank now owns 24,618 shares of the technology company’s stock worth $916,000 after purchasing an additional 3,500 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.
Varonis Systems (VRNS) traded up $1.45 during mid-day trading on Tuesday, reaching $54.25. The company had a trading volume of 475,247 shares, compared to its average volume of 171,218. Varonis Systems has a 12-month low of $25.20 and a 12-month high of $55.17. The firm has a market cap of $1,510.27, a PE ratio of -93.53 and a beta of 0.80.
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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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