Varonis Systems (NASDAQ:VRNS) Releases Quarterly Earnings Results, Beats Expectations 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, beating the Thomson Reuters’ 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 business had revenue of $74.79 million for the quarter, compared to analysts’ expectations of $69.02 million. During the same period in the prior year, the firm earned ($0.56) earnings per share. Varonis Systems’s revenue was up 38.0% compared to the same quarter last year.

Varonis Systems stock traded down $1.05 during midday trading on Tuesday, hitting $50.62. The company’s stock had a trading volume of 142,846 shares, compared to its average volume of 1,417,073. Varonis Systems has a 1-year low of $20.92 and a 1-year high of $75.33. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.69 and a quick ratio of 2.69. The company has a 50-day moving average price of $56.44 and a two-hundred day moving average price of $54.42. The company has a market cap of $5.37 billion, a price-to-earnings ratio of -17.25 and a beta of 1.12.

In other Varonis Systems news, CEO Yakov Faitelson sold 48,686 shares of Varonis Systems stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $182.50, for a total value of $8,885,195.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Den Bosch Fred Van sold 1,500 shares of Varonis Systems stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $187.97, for a total transaction of $281,955.00. Following the completion of the sale, the director now owns 47,484 shares of the company’s stock, valued at approximately $8,925,567.48. 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. Corporate insiders own 2.70% of the company’s stock.

VRNS has been the topic of several research analyst reports. Morgan Stanley increased their price target on shares of Varonis Systems from $50.67 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Barclays increased their price target on shares of Varonis Systems from $58.33 to $63.67 and gave the company an “equal weight” rating in a research note on Tuesday, February 9th. Royal Bank of Canada raised their price objective on shares of Varonis Systems from $72.00 to $75.00 and gave the company an “outperform” rating in a research note on Tuesday. Wedbush raised their price objective on shares of Varonis Systems from $63.33 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 9th. Finally, Benchmark raised their price objective on shares of Varonis Systems from $48.33 to $68.33 and gave the stock a “buy” rating in a report on Tuesday, February 9th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $61.08.

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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