Varonis Systems, Inc. (VRNS) Updates Q4 Earnings Guidance

Varonis Systems, Inc. (NASDAQ:VRNS) issued an update on its fourth quarter earnings guidance on Thursday morning. The company provided EPS guidance of $0.28-0.29 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.27. The company issued revenue guidance of $65.5-67.0 million, compared to the consensus revenue estimate of $65.05 million.

Varonis Systems, Inc. (VRNS) traded up $1.70 on Monday, hitting $48.80. The stock had a trading volume of 289,900 shares, compared to its average volume of 295,407. Varonis Systems, Inc. has a 52-week low of $24.75 and a 52-week high of $51.70.

Varonis Systems (NASDAQ:VRNS) last released its 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 analysts’ expectations of $50.53 million. Varonis Systems had a negative return on equity of 18.97% and a negative net margin of 7.91%. The company’s quarterly revenue was up 31.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) earnings per share. sell-side analysts anticipate that Varonis Systems, Inc. will post -0.53 EPS for the current fiscal year.

VRNS has been the topic of several recent research reports. Stifel Nicolaus reaffirmed a buy rating and issued a $48.00 price objective (up previously from $44.00) on shares of Varonis Systems in a research note on Monday, September 11th. Barclays PLC raised their price objective on Varonis Systems from $45.00 to $47.00 and gave the stock an equal weight rating in a research note on Friday, August 4th. Jefferies Group LLC reiterated a buy rating and set a $45.00 target price (up previously from $41.00) on shares of Varonis Systems in a research report on Friday, August 4th. Zacks Investment Research cut Varonis Systems from a buy rating to a hold rating in a research report on Thursday, October 5th. Finally, Imperial Capital restated an outperform rating and set a $46.00 price target (up previously from $39.00) on shares of Varonis Systems in a report on Friday, August 4th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $44.90.

In other Varonis Systems news, CFO Guy Melamed sold 1,150 shares of the business’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $38.35, for a total transaction of $44,102.50. Following the sale, the chief financial officer now owns 96,295 shares in the company, valued at approximately $3,692,913.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Yakov Faitelson sold 70,842 shares of the business’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $40.96, for a total value of $2,901,688.32. Following the sale, the chief executive officer now owns 334,908 shares in the company, valued at approximately $13,717,831.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 465,013 shares of company stock worth $19,116,878. 19.50% of the stock is owned by company insiders.

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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.

Earnings History and Estimates for Varonis Systems (NASDAQ:VRNS)

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