Varonis Systems (VRNS) Releases FY 2018 Earnings Guidance

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Varonis Systems (NASDAQ:VRNS) updated its FY 2018 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of $0.11-0.13 for the period, compared to the Thomson Reuters consensus estimate of $0.03. The company issued revenue guidance of $269.5-271 million, compared to the consensus revenue estimate of $266.98 million.Varonis Systems also updated its Q4 guidance to $0.32-0.34 EPS.

A number of equities analysts have recently commented on the company. Wedbush reissued a hold rating and set a $68.00 price target on shares of Varonis Systems in a report on Tuesday. Morgan Stanley cut their target price on Varonis Systems from $70.00 to $68.00 and set an equal weight rating on the stock in a research report on Tuesday. Craig Hallum set a $68.00 price target on Varonis Systems and gave the stock a hold rating in a report on Tuesday, July 31st. They noted that the move was a valuation call. BidaskClub downgraded Varonis Systems from a buy rating to a hold rating in a research note on Thursday, October 11th. Finally, Robert W. Baird initiated coverage on Varonis Systems in a research report on Thursday, October 18th. They set an outperform rating and a $75.00 price target for the company. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of Buy and a consensus target price of $73.88.

Shares of NASDAQ:VRNS traded up $2.59 during trading on Wednesday, reaching $60.93. 317,117 shares of the company were exchanged, compared to its average volume of 456,138. The firm has a market cap of $1.81 billion, a PE ratio of -121.85 and a beta of 0.74. Varonis Systems has a 12-month low of $41.75 and a 12-month high of $83.10.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, October 29th. The technology company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.18) by $0.23. The business had revenue of $67.05 million for the quarter, compared to analyst estimates of $64.47 million. Varonis Systems had a negative net margin of 11.53% and a negative return on equity of 26.68%. The company’s quarterly revenue was up 25.7% compared to the same quarter last year. During the same period last year, the company posted $0.06 earnings per share. On average, sell-side analysts expect that Varonis Systems will post -0.93 EPS for the current fiscal year.

In related news, Director Thomas F. Mendoza bought 1,688 shares of Varonis Systems stock in a transaction dated Thursday, August 2nd. The shares were acquired at an average cost of $59.58 per share, with a total value of $100,571.04. Following the completion of the transaction, the director now owns 22,511 shares in the company, valued at approximately $1,341,205.38. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Guy Melamed sold 844 shares of the firm’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 transaction of $61,063.40. Following the transaction, the chief financial officer now directly owns 130,212 shares in the company, valued at $9,420,838.20. The disclosure for this sale can be found here. Company insiders own 4.20% of the company’s stock.

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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