Varonis Systems (NASDAQ:VRNS) Announces Earnings Results, Beats Expectations By $0.05 EPS

Varonis Systems (NASDAQ:VRNS) issued its quarterly earnings results on Sunday. The technology company reported ($0.08) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.05, MarketWatch Earnings reports. Varonis Systems had a negative net margin of 33.75% and a negative return on equity of 97.77%. The firm had revenue of $74.79 million during the quarter, compared to analysts’ expectations of $69.02 million. During the same quarter in the prior year, the business earned ($0.56) EPS. Varonis Systems’s quarterly revenue was up 38.0% compared to the same quarter last year.

VRNS stock traded down $1.30 during trading on Tuesday, hitting $50.37. 139,368 shares of the company’s stock traded hands, compared to its average volume of 1,417,073. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.74. Varonis Systems has a 52 week low of $20.92 and a 52 week high of $75.33. The stock has a fifty day moving average price of $56.44 and a two-hundred day moving average price of $54.42. The stock has a market capitalization of $5.35 billion, a price-to-earnings ratio of -17.25 and a beta of 1.12.

VRNS has been the subject of several recent analyst reports. Wedbush raised their target price on shares of Varonis Systems from $63.33 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 9th. Needham & Company LLC reduced their price objective on shares of Varonis Systems to $75.00 and set a “buy” rating for the company in a research note on Tuesday. DA Davidson reduced their price objective on shares of Varonis Systems to $60.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada raised their target price on shares of Varonis Systems from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Zacks Investment Research upgraded shares of Varonis Systems from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 14th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $61.08.

In other news, Director Ofer Segev sold 1,500 shares of the firm’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $53.75, for a total transaction of $80,625.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Den Bosch Fred Van sold 4,500 shares of the firm’s stock in a transaction dated Thursday, April 1st. The shares were sold at an average price of $52.27, for a total transaction of $235,215.00. The disclosure for this sale can be found here. Insiders sold a total of 277,799 shares of company stock valued at $40,694,906 in the last quarter. 2.70% of the stock is currently owned by insiders.

Varonis Systems Company Profile

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; strategic and product plans; and other intellectual property.

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Earnings History for Varonis Systems (NASDAQ:VRNS)

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