Varonis Systems Ltd. (NASDAQ:VRNS) – Imperial Capital lifted their Q3 2018 earnings estimates for Varonis Systems in a research note issued to investors on Wednesday, March 14th, according to Zacks Investment Research. Imperial Capital analyst M. Kim now anticipates 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.
Several other research firms have also recently commented on VRNS. BidaskClub raised Varonis Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, January 10th. Needham & Company LLC raised their target price on Varonis Systems from $52.00 to $65.00 and gave the stock a “buy” rating in a research note on Friday, January 19th. Zacks Investment Research cut Varonis Systems from a “buy” rating to a “hold” rating in a research note on Saturday, January 6th. Benchmark reissued a “buy” rating and issued a $69.00 price objective (up previously from $60.00) on shares of Varonis Systems in a research note on Monday, April 2nd. Finally, ValuEngine raised Varonis Systems from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $60.15.
NASDAQ VRNS traded down $1.45 during trading hours on Friday, hitting $60.45. 184,449 shares of the company’s stock were exchanged, compared to its average volume of 254,302. Varonis Systems has a 1-year low of $30.40 and a 1-year high of $63.50. The stock has a market capitalization of $1,750.97, a P/E ratio of -120.90 and a beta of 0.73.
Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, February 12th. The technology company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.29 by $0.07. Varonis Systems had a negative return on equity of 15.65% and a negative net margin of 6.30%. The business had revenue of $73.20 million during the quarter, compared to analysts’ expectations of $66.29 million. During the same quarter last year, the firm posted $0.24 earnings per share. The firm’s revenue was up 34.6% on a year-over-year basis.
In other news, Director Gili Iohan sold 16,370 shares of the firm’s stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $60.41, for a total value of $988,911.70. Following the transaction, the director now owns 53,149 shares in the company, valued at $3,210,731.09. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Guy Melamed sold 15,510 shares of the firm’s stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $56.13, for a total value of $870,576.30. The disclosure for this sale can be found here. Insiders sold 257,607 shares of company stock valued at $14,774,744 in the last three months. Insiders own 4.20% of the company’s stock.
Several hedge funds have recently bought and sold shares of VRNS. Parametric Portfolio Associates LLC bought a new position in shares of Varonis Systems in the second quarter valued at approximately $993,000. State Street Corp lifted its holdings in shares of Varonis Systems by 53.1% in the second quarter. State Street Corp now owns 309,766 shares of the technology company’s stock valued at $11,520,000 after purchasing an additional 107,403 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Varonis Systems by 72.5% in the second quarter. The Manufacturers Life Insurance Company now owns 15,081 shares of the technology company’s stock valued at $561,000 after purchasing an additional 6,340 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Varonis Systems by 61.3% in the second quarter. California State Teachers Retirement System now owns 33,934 shares of the technology company’s stock valued at $1,262,000 after purchasing an additional 12,900 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Varonis Systems by 11.8% in the third quarter. Prudential Financial Inc. now owns 205,580 shares of the technology company’s stock valued at $8,614,000 after purchasing an additional 21,780 shares in the last quarter. Institutional investors own 84.84% of the company’s stock.
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Varonis Systems Company Profile
Varonis Systems, Inc provides software solutions that protect data from insider threats and cyberattacks. The company, through its software, allows organizations to protect data stored on premises and on cloud, such as sensitive files and emails; confidential customer, patient and employee data; financial records; strategic and product plans; and other intellectual property.
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