Wall Street brokerages expect Varonis Systems Inc (NASDAQ:VRNS) to announce $72.05 million in sales for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Varonis Systems’ earnings, with estimates ranging from $70.70 million to $72.65 million. Varonis Systems posted sales of $87.52 million during the same quarter last year, which suggests a negative year-over-year growth rate of 17.7%. The business is scheduled to report its next earnings results after the market closes on Monday, February 10th.

On average, analysts expect that Varonis Systems will report full year sales of $253.75 million for the current fiscal year, with estimates ranging from $252.40 million to $254.28 million. For the next financial year, analysts anticipate that the company will post sales of $282.14 million, with estimates ranging from $258.20 million to $323.00 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Varonis Systems.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, October 28th. The technology company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.18. The company had revenue of $65.65 million for the quarter, compared to the consensus estimate of $61.61 million. Varonis Systems had a negative return on equity of 49.47% and a negative net margin of 21.42%. Varonis Systems’s quarterly revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 earnings per share.

Several brokerages have recently commented on VRNS. BidaskClub downgraded Varonis Systems from a “strong-buy” rating to a “buy” rating in a research report on Friday. ValuEngine downgraded Varonis Systems from a “buy” rating to a “hold” rating in a research report on Friday, January 3rd. Craig Hallum boosted their price objective on Varonis Systems from $75.00 to $82.00 in a research report on Tuesday, October 29th. Barclays restated a “hold” rating and issued a $91.00 price objective on shares of Varonis Systems in a research report on Wednesday. Finally, Jefferies Financial Group boosted their price objective on Varonis Systems from $88.00 to $92.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Varonis Systems has an average rating of “Buy” and a consensus price target of $81.21.

In other news, Director Gili Iohan sold 11,765 shares of Varonis Systems stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $85.48, for a total value of $1,005,672.20. Following the sale, the director now directly owns 18,131 shares of the company’s stock, valued at $1,549,837.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP David Bass sold 3,000 shares of Varonis Systems stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $75.19, for a total value of $225,570.00. Following the completion of the sale, the executive vice president now directly owns 159,500 shares in the company, valued at $11,992,805. The disclosure for this sale can be found here. Insiders sold 85,441 shares of company stock worth $7,093,041 over the last ninety days. Insiders own 2.80% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. Intellectus Partners LLC increased its holdings in shares of Varonis Systems by 4.7% in the fourth quarter. Intellectus Partners LLC now owns 15,709 shares of the technology company’s stock worth $1,221,000 after purchasing an additional 709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Varonis Systems by 34.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,521 shares of the technology company’s stock worth $351,000 after purchasing an additional 1,166 shares during the last quarter. Coronation Fund Managers Ltd. increased its holdings in shares of Varonis Systems by 30.1% in the fourth quarter. Coronation Fund Managers Ltd. now owns 60,010 shares of the technology company’s stock worth $4,663,000 after purchasing an additional 13,873 shares during the last quarter. Kopion Asset Management LLC bought a new stake in shares of Varonis Systems in the fourth quarter worth about $8,928,000. Finally, Carroll Financial Associates Inc. bought a new stake in Varonis Systems during the fourth quarter worth approximately $41,000. 97.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Varonis Systems stock traded down $0.32 during trading hours on Wednesday, hitting $84.75. The company’s stock had a trading volume of 145,105 shares, compared to its average volume of 225,024. The business has a 50 day moving average price of $79.47 and a two-hundred day moving average price of $70.93. Varonis Systems has a 12-month low of $49.50 and a 12-month high of $88.60. The company has a market cap of $2.59 billion, a PE ratio of -43.91 and a beta of 0.92.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data. Its software allows enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential customer, and patient and employee data; financial records; strategic and product plans; and other intellectual property.

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