Varonis Systems Inc (NASDAQ:VRNS) Expected to Announce Earnings of -$0.31 Per Share

Wall Street brokerages expect Varonis Systems Inc (NASDAQ:VRNS) to report earnings per share of ($0.31) for the current quarter, according to Zacks. Four analysts have made estimates for Varonis Systems’ earnings. Varonis Systems posted earnings of ($0.23) per share in the same quarter last year, which would indicate a negative year-over-year growth rate of 34.8%. The business is expected to announce its next earnings report on Thursday, May 3rd.

On average, analysts expect that Varonis Systems will report full year earnings of $0.01 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.02. For the next year, analysts expect that the firm will report earnings of $0.24 per share, with EPS estimates ranging from $0.14 to $0.34. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Varonis Systems.

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Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, February 12th. The technology company reported $0.36 earnings per share for the quarter, beating the Thomson Reuters’ 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 the consensus estimate of $66.29 million. During the same period in the previous year, the business earned $0.24 EPS. The business’s quarterly revenue was up 34.6% on a year-over-year basis.

Several analysts have commented on VRNS shares. Zacks Investment Research raised Varonis Systems from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research note on Tuesday, January 23rd. Benchmark reaffirmed a “buy” rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Friday, December 1st. Stephens reaffirmed a “buy” rating and set a $60.00 price objective on shares of Varonis Systems in a research note on Tuesday, February 13th. BidaskClub downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research note on Thursday, January 25th. Finally, Oppenheimer reaffirmed 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 given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Varonis Systems has a consensus rating of “Buy” and an average target price of $58.33.

Varonis Systems stock traded down $1.30 during trading on Friday, hitting $60.15. The stock had a trading volume of 182,167 shares, compared to its average volume of 314,873. Varonis Systems has a fifty-two week low of $26.35 and a fifty-two week high of $63.50. The stock has a market cap of $1,701.46, a P/E ratio of -115.67 and a beta of 0.81.

In other Varonis Systems news, Director Kevin E. Comolli sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $58.97, for a total transaction of $2,948,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Guy Melamed sold 897 shares of the business’s stock in a transaction that occurred on 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 approximately $4,670,221.60. The disclosure for this sale can be found here. Insiders have sold a total of 242,134 shares of company stock worth $13,829,741 in the last quarter. 19.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRNS. State Street Corp increased its position in Varonis Systems by 53.1% during the 2nd quarter. State Street Corp now owns 309,766 shares of the technology company’s stock worth $11,520,000 after purchasing an additional 107,403 shares during the period. New York State Common Retirement Fund increased its position in Varonis Systems by 9.5% during the 3rd quarter. New York State Common Retirement Fund now owns 41,740 shares of the technology company’s stock worth $1,749,000 after purchasing an additional 3,620 shares during the period. Los Angeles Capital Management & Equity Research Inc. acquired a new position in Varonis Systems during the 3rd quarter worth approximately $1,218,000. Bank of New York Mellon Corp grew its holdings in shares of Varonis Systems by 4.2% in the 3rd 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 during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Varonis Systems by 18.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 89,679 shares of the technology company’s stock worth $3,757,000 after acquiring an additional 13,787 shares during the period. Institutional investors own 85.23% 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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Earnings History and Estimates for Varonis Systems (NASDAQ:VRNS)

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