$62.13 Million in Sales Expected for Varonis Systems Ltd. (VRNS) This Quarter

Analysts expect Varonis Systems Ltd. (NASDAQ:VRNS) to report $62.13 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Varonis Systems’ earnings. The lowest sales estimate is $62.00 million and the highest is $62.40 million. Varonis Systems posted sales of $50.17 million during the same quarter last year, which would suggest a positive year over year growth rate of 23.8%. The business is expected to report its next earnings results on Thursday, August 2nd.

According to Zacks, analysts expect that Varonis Systems will report full year sales of $266.68 million for the current year, with estimates ranging from $266.15 million to $268.20 million. For the next financial year, analysts anticipate that the firm will report sales of $314.51 million per share, with estimates ranging from $310.00 million to $320.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Varonis Systems.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, April 30th. The technology company reported ($0.22) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.09. The company had revenue of $53.53 million for the quarter, compared to analyst estimates of $49.71 million. Varonis Systems had a negative net margin of 7.75% and a negative return on equity of 17.72%. The firm’s quarterly revenue was up 35.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.23) EPS.

Several research analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $61.00 price objective on the stock in a report on Tuesday, January 23rd. Stifel Nicolaus increased their price objective on shares of Varonis Systems from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, April 11th. Stephens reiterated a “buy” rating and set a $60.00 price objective on shares of Varonis Systems in a report on Tuesday, February 13th. BidaskClub lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Finally, DA Davidson assumed coverage on shares of Varonis Systems in a report on Tuesday, March 27th. They set a “buy” rating and a $73.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $69.43.

In related news, EVP David Bass sold 17,500 shares of the stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $57.43, for a total transaction of $1,005,025.00. Following the completion of the sale, the executive vice president now owns 127,250 shares of the company’s stock, valued at approximately $7,307,967.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gili Iohan sold 16,370 shares of the stock in a transaction that occurred on Monday, March 26th. The stock was sold at an average price of $60.41, for a total transaction of $988,911.70. Following the sale, the director now directly owns 53,149 shares of the company’s stock, valued at approximately $3,210,731.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 257,607 shares of company stock valued at $14,774,744. Corporate insiders own 4.20% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in Varonis Systems by 97.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 91,672 shares of the technology company’s stock worth $4,450,000 after purchasing an additional 45,307 shares in the last quarter. Deutsche Bank AG grew its position in Varonis Systems by 33.2% in the fourth quarter. Deutsche Bank AG now owns 358,569 shares of the technology company’s stock valued at $17,406,000 after acquiring an additional 89,442 shares in the last quarter. Schwab Charles Investment Management Inc. grew its position in Varonis Systems by 35.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 91,095 shares of the technology company’s stock valued at $3,817,000 after acquiring an additional 24,049 shares in the last quarter. University of Notre Dame DU Lac grew its position in Varonis Systems by 37.5% in the fourth quarter. University of Notre Dame DU Lac now owns 176,318 shares of the technology company’s stock valued at $8,560,000 after acquiring an additional 48,087 shares in the last quarter. Finally, Bailard Inc. acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $2,194,000. 84.63% of the stock is owned by hedge funds and other institutional investors.

Shares of VRNS stock traded up $0.65 during trading hours on Monday, hitting $68.65. 272,958 shares of the company were exchanged, compared to its average volume of 301,915. The firm has a market cap of $1,903.72, a P/E ratio of -135.14 and a beta of 0.72. Varonis Systems has a 1 year low of $31.80 and a 1 year high of $70.80.

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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