DA Davidson Research Analysts Boost Earnings Estimates for Varonis Systems Inc (VRNS)

Varonis Systems Inc (NASDAQ:VRNS) – DA Davidson lifted their FY2018 EPS estimates for shares of Varonis Systems in a report issued on Tuesday, October 30th. DA Davidson analyst R. Jaluria now expects that the technology company will post earnings of ($0.89) per share for the year, up from their prior estimate of ($0.97). DA Davidson currently has a “Buy” rating and a $70.00 target price on the stock. DA Davidson also issued estimates for Varonis Systems’ Q4 2018 earnings at $0.08 EPS, Q3 2019 earnings at ($0.23) EPS, Q4 2019 earnings at $0.05 EPS and FY2019 earnings at ($0.91) EPS.

VRNS has been the subject of a number of other research reports. Jefferies Financial Group reiterated a “buy” rating and set a $92.00 price target on shares of Varonis Systems in a research note on Friday, July 20th. BidaskClub downgraded Varonis Systems from a “strong-buy” rating to a “buy” rating in a research note on Thursday, September 20th. Barclays cut their price target on Varonis Systems from $79.00 to $74.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $85.00 price target on shares of Varonis Systems in a research note on Monday, July 30th. Finally, Needham & Company LLC boosted their target price on Varonis Systems to $90.00 and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $73.88.

VRNS stock opened at $61.86 on Friday. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -123.72 and a beta of 0.74. Varonis Systems has a 52-week low of $41.75 and a 52-week high of $83.10.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Monday, October 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.23. The business had revenue of $67.05 million during the quarter, compared to the consensus estimate of $64.47 million. Varonis Systems had a negative return on equity of 26.68% and a negative net margin of 11.53%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS.

In other news, CFO Guy Melamed sold 844 shares of the business’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $72.35, for a total value of $61,063.40. Following the transaction, the chief financial officer now owns 130,212 shares in the company, valued at approximately $9,420,838.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by insiders.

Large investors have recently bought and sold shares of the stock. AMP Capital Investors Ltd bought a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $209,000. First Republic Investment Management Inc. bought a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $213,000. Capital Fund Management S.A. bought a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $238,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $260,000. Finally, Thompson Siegel & Walmsley LLC bought a new stake in shares of Varonis Systems in the 2nd quarter worth approximately $261,000. 82.14% of the stock is currently owned by institutional investors.

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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Earnings History and Estimates for Varonis Systems (NASDAQ:VRNS)

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