Varonis Systems Inc (NASDAQ:VRNS) – Investment analysts at Jefferies Financial Group lifted their FY2018 earnings estimates for shares of Varonis Systems in a research report issued on Tuesday, October 30th. Jefferies Financial Group analyst J. Difucci now forecasts that the technology company will post earnings per share of ($0.90) for the year, up from their previous forecast of ($0.91). Jefferies Financial Group has a “Buy” rating and a $81.00 price target on the stock. Jefferies Financial Group also issued estimates for Varonis Systems’ Q4 2018 earnings at $0.06 EPS, Q1 2019 earnings at ($0.53) EPS, Q4 2019 earnings at $0.08 EPS and FY2019 earnings at ($0.89) EPS.
Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.18) by $0.23. Varonis Systems had a negative net margin of 11.53% and a negative return on equity of 26.68%. The business had revenue of $67.05 million for the quarter, compared to analysts’ expectations of $64.47 million. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 25.7% compared to the same quarter last year.
VRNS has been the topic of several other reports. BidaskClub cut shares of Varonis Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Barclays lowered their price objective on shares of Varonis Systems from $79.00 to $74.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 31st. Royal Bank of Canada restated an “outperform” rating and set a $85.00 price objective on shares of Varonis Systems in a research report on Monday, July 30th. Needham & Company LLC raised their price objective on shares of Varonis Systems to $90.00 and gave the company a “buy” rating in a research report on Tuesday, July 17th. Finally, Morgan Stanley set a $70.00 price objective on shares of Varonis Systems and gave the company a “hold” rating in a research report on Friday, October 19th. Six research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Varonis Systems has an average rating of “Buy” and a consensus price target of $73.88.
NASDAQ VRNS opened at $61.86 on Friday. Varonis Systems has a 1 year low of $41.75 and a 1 year high of $83.10. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of -123.72 and a beta of 0.74.
In related news, CFO Guy Melamed sold 1,616 shares of the stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $72.86, for a total transaction of $117,741.76. Following the transaction, the chief financial officer now owns 130,212 shares of the company’s stock, valued at approximately $9,487,246.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.20% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in VRNS. AMP Capital Investors Ltd bought a new stake in Varonis Systems in the 2nd quarter worth $209,000. First Republic Investment Management Inc. bought a new stake in Varonis Systems in the 2nd quarter worth $213,000. Capital Fund Management S.A. bought a new stake in Varonis Systems in the 2nd quarter worth $238,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Varonis Systems in the 2nd quarter worth $260,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in Varonis Systems in the 2nd quarter worth $261,000. 82.14% of the stock is currently owned by institutional investors.
About Varonis Systems
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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