Varonis Systems (NASDAQ:VRNS) Releases Q3 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its third quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of ($0.36-0.34) for the period, compared to the Thomson Reuters consensus estimate of ($0.08). The company issued revenue guidance of $61.0-62.5 million, compared to the consensus revenue estimate of $68.24 million.Varonis Systems also updated its FY 2019 guidance to $-0.93–0.9 EPS.

NASDAQ VRNS traded up $1.01 on Wednesday, hitting $72.30. 345,857 shares of the company’s stock traded hands, compared to its average volume of 240,791. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of -73.78 and a beta of 1.01. The stock’s 50-day moving average price is $64.39. Varonis Systems has a 1-year low of $48.67 and a 1-year high of $80.00.

Varonis Systems (NASDAQ:VRNS) last posted its earnings results on Monday, April 29th. The technology company reported ($0.68) earnings per share for the quarter, missing the consensus estimate of ($0.64) by ($0.04). The firm had revenue of $56.40 million for the quarter, compared to analysts’ expectations of $59.36 million. Varonis Systems had a negative net margin of 13.24% and a negative return on equity of 30.00%. Varonis Systems’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.22) earnings per share. Equities analysts forecast that Varonis Systems will post -1.75 earnings per share for the current fiscal year.

Several brokerages recently commented on VRNS. BidaskClub raised shares of Varonis Systems from a buy rating to a strong-buy rating in a report on Saturday. Morgan Stanley boosted their price target on shares of Varonis Systems from $55.00 to $65.00 and gave the stock an equal weight rating in a report on Tuesday, April 30th. Barclays boosted their price target on shares of Varonis Systems from $71.00 to $81.00 and gave the stock an equal weight rating in a report on Tuesday. UBS Group boosted their price target on shares of Varonis Systems from $68.00 to $80.00 and gave the stock an outperform rating in a report on Tuesday, April 30th. Finally, Craig Hallum boosted their price target on shares of Varonis Systems from $62.00 to $70.00 and gave the stock a hold rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. Varonis Systems currently has a consensus rating of Buy and an average target price of $74.00.

In other news, EVP David Bass sold 42,416 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $72.54, for a total transaction of $3,076,856.64. Following the completion of the sale, the executive vice president now owns 202,833 shares of the company’s stock, valued at $14,713,505.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is owned by corporate insiders.

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

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