$66.54 Million in Sales Expected for Varonis Systems Inc (VRNS) This Quarter

Equities research analysts expect that Varonis Systems Inc (NASDAQ:VRNS) will report sales of $66.54 million for the current quarter, Zacks reports. Three analysts have made estimates for Varonis Systems’ earnings. The highest sales estimate is $66.85 million and the lowest is $66.38 million. Varonis Systems posted sales of $54.41 million in the same quarter last year, which suggests a positive year over year growth rate of 22.3%. The firm is expected to report its next earnings report after the market closes on Monday, February 12th.

According to Zacks, analysts expect that Varonis Systems will report full year sales of $66.54 million for the current fiscal year, with estimates ranging from $210.40 million to $211.00 million. For the next fiscal year, analysts forecast that the business will post sales of $252.28 million per share, with estimates ranging from $243.76 million to $261.00 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Varonis Systems.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported $0.06 EPS for the quarter. The firm had revenue of $53.60 million for the quarter, compared to analyst estimates of $50.53 million. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The business’s quarterly revenue was up 31.1% compared to the same quarter last year. During the same period last year, the company earned ($0.03) EPS.

A number of research analysts have commented on VRNS shares. Oppenheimer reiterated a “buy” rating and issued a $57.00 price objective on shares of Varonis Systems in a research report on Wednesday, December 13th. Royal Bank of Canada reiterated a “buy” rating and issued a $55.00 price objective on shares of Varonis Systems in a research report on Thursday, December 7th. Stephens restated a “buy” rating and issued a $58.00 price target on shares of Varonis Systems in a research report on Friday, January 12th. BidaskClub upgraded Varonis Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, January 10th. Finally, Benchmark restated a “buy” rating and issued a $60.00 price target on shares of Varonis Systems in a research report on Friday, December 1st. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $52.27.

Shares of Varonis Systems (VRNS) traded up $1.45 on Thursday, reaching $54.25. The company’s stock had a trading volume of 475,247 shares, compared to its average volume of 171,218. The company has a market cap of $1,510.27, a price-to-earnings ratio of -93.53 and a beta of 0.80. Varonis Systems has a 52-week low of $25.20 and a 52-week high of $55.17.

In other Varonis Systems news, Director Gili Iohan sold 52,569 shares of Varonis Systems stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $49.93, for a total transaction of $2,624,770.17. Following the transaction, the director now directly owns 57,446 shares in the company, valued at $2,868,278.78. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 897 shares of Varonis Systems stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $48.95, for a total value of $43,908.15. Following the transaction, the chief financial officer now owns 95,408 shares in the company, valued at $4,670,221.60. 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 90 days. 19.50% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in Varonis Systems by 11.0% during the second quarter. Vanguard Group Inc. now owns 826,449 shares of the technology company’s stock worth $30,744,000 after acquiring an additional 82,109 shares in the last quarter. ETF Managers Group LLC bought a new position in Varonis Systems during the second quarter worth about $18,092,000. Renaissance Technologies LLC lifted its holdings in Varonis Systems by 4,112.1% during the second quarter. Renaissance Technologies LLC now owns 450,700 shares of the technology company’s stock worth $16,766,000 after acquiring an additional 440,000 shares in the last quarter. UBS Asset Management Americas Inc. lifted its holdings in Varonis Systems by 316.7% during the second quarter. UBS Asset Management Americas Inc. now owns 384,434 shares of the technology company’s stock worth $14,301,000 after acquiring an additional 292,178 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Varonis Systems by 4.2% during the third quarter. Bank of New York Mellon Corp now owns 367,787 shares of the technology company’s stock worth $15,412,000 after acquiring an additional 14,829 shares in the last quarter. Hedge funds and other institutional investors own 84.46% of the company’s stock.

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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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