Varonis Systems (NASDAQ:VRNS) Posts Quarterly Earnings Results


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Varonis Systems (NASDAQ:VRNS) announced its quarterly earnings results on Sunday. The technology company reported ($0.08) EPS for the quarter, beating 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 the consensus estimate of $69.02 million. During the same quarter last year, the firm earned ($0.56) EPS. The firm’s revenue for the quarter was up 38.0% compared to the same quarter last year.

Shares of VRNS stock traded down $1.30 on Tuesday, reaching $50.37. 139,368 shares of the company were exchanged, compared to its average volume of 1,417,073. The company has a market cap of $5.35 billion, a price-to-earnings ratio of -17.25 and a beta of 1.12. The business has a 50-day moving average price of $56.44 and a 200 day moving average price of $54.42. The company has a debt-to-equity ratio of 2.74, a quick ratio of 2.69 and a current ratio of 2.69. Varonis Systems has a 1 year low of $20.92 and a 1 year high of $75.33.

In other Varonis Systems news, VP Gilad Raz sold 18,030 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $185.08, for a total value of $3,336,992.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ofer Segev sold 1,500 shares of the business’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 disclosure for this sale can be found here. Insiders have sold 277,799 shares of company stock worth $40,694,906 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

A number of research analysts recently commented on the stock. Royal Bank of Canada increased their price target on shares of Varonis Systems from $72.00 to $75.00 and gave the company an “outperform” rating in a report on Tuesday. 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 report on Wednesday, April 28th. Craig Hallum increased their price target on shares of Varonis Systems from $50.00 to $78.33 and gave the company a “buy” rating in a report on Tuesday, February 9th. JMP Securities increased their price target on shares of Varonis Systems from $66.67 to $72.67 and gave the company an “outperform” rating in a report on Tuesday, February 9th. Finally, UBS Group began coverage on shares of Varonis Systems in a research note on Tuesday, March 30th. They issued a “buy” rating and a $62.00 price objective for the company. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $61.08.

About Varonis Systems

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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