Varonis Systems Inc (NASDAQ:VRNS) – Equities research analysts at Imperial Capital upped their Q3 2018 earnings per share estimates for Varonis Systems in a report released on Wednesday. Imperial Capital analyst M. Kim now expects that the technology company will post earnings of ($0.21) per share for the quarter, up from their prior estimate of ($0.22). Imperial Capital has a “Outperform” rating and a $68.00 price objective on the stock. Imperial Capital also issued estimates for Varonis Systems’ FY2018 earnings at ($0.80) EPS and FY2019 earnings at ($0.73) EPS.
VRNS has been the subject of a number of other reports. Royal Bank of Canada restated a “buy” rating and set a $55.00 price objective on shares of Varonis Systems in a research note on Thursday, December 7th. Zacks Investment Research downgraded shares of Varonis Systems from a “hold” rating to a “sell” rating in a research note on Saturday, February 17th. Stephens restated a “buy” rating and set a $58.00 price objective on shares of Varonis Systems in a research note on Friday, January 12th. Barclays restated a “neutral” rating on shares of Varonis Systems in a research note on Tuesday, December 19th. Finally, Oppenheimer restated a “buy” rating and set a $57.00 price objective on shares of Varonis Systems in a research note on Wednesday, December 13th. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $58.33.
Varonis Systems (NASDAQ VRNS) opened at $58.80 on Friday. Varonis Systems has a one year low of $26.35 and a one year high of $60.05. The company has a market cap of $1,637.39, a PE ratio of -113.08 and a beta of 0.81.
Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 12th. The technology company reported $0.36 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.29 by $0.07. The firm had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $66.29 million. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The company’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS.
Large investors have recently modified their holdings of the stock. ETRADE Capital Management LLC acquired a new stake in Varonis Systems in the 4th quarter valued at about $209,000. CAPROCK Group Inc. acquired a new stake in Varonis Systems in the 4th quarter valued at about $220,000. Teacher Retirement System of Texas acquired a new stake in Varonis Systems in the 4th quarter valued at about $254,000. Invictus RG acquired a new stake in Varonis Systems in the 4th quarter valued at about $271,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Varonis Systems by 327.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,872 shares of the technology company’s stock valued at $288,000 after purchasing an additional 5,263 shares during the last quarter. Institutional investors and hedge funds own 85.34% of the company’s stock.
In related news, CFO Guy Melamed sold 897 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $48.95, for a total value of $43,908.15. Following the completion of the sale, the chief financial officer now directly owns 95,408 shares in the company, valued at approximately $4,670,221.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP James O’boyle sold 35,000 shares of the firm’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $56.79, for a total transaction of $1,987,650.00. The disclosure for this sale can be found here. Insiders sold a total of 242,134 shares of company stock valued at $13,829,741 over the last quarter. 19.50% of the stock is currently owned by company insiders.
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About Varonis Systems
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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