Varonis Systems (NASDAQ:VRNS) Releases Quarterly Earnings Results, Beats Estimates By $0.05 EPS

Varonis Systems (NASDAQ:VRNS) released its quarterly earnings results on Sunday. The technology company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the company earned ($0.56) EPS. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year.

Varonis Systems stock traded down $1.04 during midday trading on Tuesday, reaching $50.63. The company’s stock had a trading volume of 147,647 shares, compared to its average volume of 1,417,073. The company has a market cap of $5.37 billion, a P/E ratio of -17.25 and a beta of 1.12. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.74. The business has a 50-day simple moving average of $56.44 and a 200-day simple moving average of $54.42. Varonis Systems has a fifty-two week low of $20.92 and a fifty-two week high of $75.33.

VRNS has been the subject of several research reports. UBS Group started coverage on shares of Varonis Systems in a research report on Tuesday, March 30th. They issued a “buy” rating and a $62.00 price objective for the company. Morgan Stanley raised their target price on Varonis Systems from $50.67 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. Berenberg Bank raised shares of Varonis Systems from a “hold” rating to a “buy” rating and set a $84.33 price objective on the stock in a research note on Thursday, February 25th. Benchmark increased their price objective on shares of Varonis Systems from $48.33 to $68.33 and gave the company a “buy” rating in a report on Tuesday, February 9th. Finally, Craig Hallum lifted their price objective on Varonis Systems from $50.00 to $78.33 and gave the stock a “buy” rating in a research report on Tuesday, February 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $61.08.

In other news, EVP David Bass sold 58,750 shares of the company’s stock in a transaction on Monday, March 1st. The shares were sold at an average price of $187.40, for a total value of $11,009,750.00. Following the completion of the transaction, the executive vice president now owns 179,487 shares in the company, valued at approximately $33,635,863.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Gilad Raz sold 18,030 shares of the stock in a transaction on Monday, March 1st. The shares were sold at an average price of $185.08, for a total transaction of $3,336,992.40. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 277,799 shares of company stock valued at $40,694,906. Insiders own 2.70% of the company’s stock.

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.

Further Reading: What are the components of an earnings report?

Earnings History for Varonis Systems (NASDAQ:VRNS)

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