Equities research analysts expect Varonis Systems Inc (NASDAQ:VRNS) to announce $66.54 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Varonis Systems’ earnings, with the highest sales estimate coming in at $66.85 million and the lowest estimate coming in at $66.38 million. Varonis Systems reported sales of $54.41 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 22.3%. The company is scheduled to announce its next earnings report after the market closes on Monday, February 12th.
On average, 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 financial year, analysts expect that the company will post sales of $252.28 million per share, with estimates ranging from $243.76 million to $261.00 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Varonis Systems.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results 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%. Varonis Systems’s revenue for the quarter was up 31.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS.
In other Varonis Systems news, CEO Yakov Faitelson sold 63,807 shares of Varonis Systems stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $50.35, for a total transaction of $3,212,682.45. Following the sale, the chief executive officer now directly owns 157,651 shares in the company, valued at approximately $7,937,727.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Guy Melamed sold 605 shares of Varonis Systems stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $43.65, for a total value of $26,408.25. Following the sale, the chief financial officer now owns 95,491 shares in the company, valued at $4,168,182.15. The disclosure for this sale can be found here. Insiders have 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 company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. New York State Common Retirement Fund increased its holdings in shares of Varonis Systems by 217.6% in the 2nd quarter. New York State Common Retirement Fund now owns 38,120 shares of the technology company’s stock valued at $1,418,000 after acquiring an additional 26,119 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of Varonis Systems by 31.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 67,046 shares of the technology company’s stock valued at $2,495,000 after acquiring an additional 15,899 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Varonis Systems in the 3rd quarter valued at approximately $1,267,000. Bank of New York Mellon Corp increased 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 valued at $15,412,000 after acquiring an additional 14,829 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in shares of Varonis Systems by 11.8% in the 3rd quarter. Prudential Financial Inc. now owns 205,580 shares of the technology company’s stock valued at $8,614,000 after acquiring an additional 21,780 shares during the last quarter. Institutional investors and hedge funds own 84.46% of the company’s stock.
Varonis Systems (NASDAQ VRNS) traded up $1.45 during trading on Thursday, reaching $54.25. The company had a trading volume of 475,247 shares, compared to its average volume of 171,218. The firm 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 12-month low of $25.20 and a 12-month high of $55.17.
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About Varonis Systems
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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