Varonis Systems Inc (NASDAQ:VRNS) – Equities researchers at DA Davidson dropped their Q1 2019 earnings per share (EPS) estimates for shares of Varonis Systems in a research report issued to clients and investors on Tuesday, February 12th. DA Davidson analyst R. Jaluria now forecasts that the technology company will post earnings per share of ($0.61) for the quarter, down from their prior forecast of ($0.41). DA Davidson currently has a “Buy” rating and a $62.00 target price on the stock. DA Davidson also issued estimates for Varonis Systems’ Q2 2019 earnings at ($0.37) EPS, Q3 2019 earnings at ($0.26) EPS, Q4 2019 earnings at ($0.06) EPS, FY2019 earnings at ($1.27) EPS, Q1 2020 earnings at ($0.46) EPS, Q2 2020 earnings at ($0.41) EPS, Q3 2020 earnings at ($0.29) EPS, Q4 2020 earnings at ($0.16) EPS and FY2020 earnings at ($1.29) EPS.
VRNS has been the subject of several other research reports. BidaskClub lowered shares of Varonis Systems from a “buy” rating to a “hold” rating in a research note on Friday, January 4th. Morgan Stanley lowered their target price on shares of Varonis Systems from $70.00 to $68.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 30th. UBS Group lowered their target price on shares of Varonis Systems from $80.00 to $68.00 and set an “outperform” rating for the company in a research note on Tuesday, February 12th. Jefferies Financial Group reaffirmed a “buy” rating and set a $73.00 target price (down previously from $81.00) on shares of Varonis Systems in a research note on Tuesday, February 12th. Finally, Wedbush lowered their target price on shares of Varonis Systems from $68.00 to $55.00 and set a “neutral” rating for the company in a research note on Tuesday, February 12th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $67.48.
Varonis Systems stock opened at $54.45 on Friday. Varonis Systems has a 12-month low of $48.67 and a 12-month high of $83.10. The stock has a market cap of $1.61 billion, a P/E ratio of -55.56 and a beta of 0.99.
Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 11th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.09 by $0.11. Varonis Systems had a negative net margin of 10.57% and a negative return on equity of 24.02%. The firm had revenue of $87.52 million during the quarter, compared to analysts’ expectations of $87.33 million.
Large investors have recently modified their holdings of the stock. Mondrian Capital Management LLC acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $53,000. NumerixS Investment Technologies Inc raised its holdings in Varonis Systems by 257.1% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,500 shares of the technology company’s stock valued at $133,000 after acquiring an additional 1,800 shares in the last quarter. Amalgamated Bank acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $218,000. Stone Ridge Asset Management LLC acquired a new stake in Varonis Systems in the fourth quarter valued at approximately $228,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Varonis Systems in the third quarter valued at approximately $243,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.
In other news, CEO Yakov Faitelson sold 30,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $54.72, for a total value of $1,641,600.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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.