Varonis Systems (NASDAQ:VRNS) Issues Earnings Results


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Varonis Systems (NASDAQ:VRNS) issued its quarterly earnings data on Sunday. The technology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05, MarketWatch Earnings reports. Varonis Systems had a negative return on equity of 97.77% and a negative net margin of 33.75%. The business 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 firm posted ($0.56) earnings per share. The company’s revenue was up 38.0% on a year-over-year basis.

Shares of NASDAQ:VRNS traded down $1.01 on Tuesday, hitting $50.66. 191,713 shares of the company’s stock were exchanged, 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 quick ratio of 2.69 and a current ratio of 2.69. The company has a market capitalization of $5.38 billion, a PE ratio of -17.25 and a beta of 1.12. The firm’s 50-day moving average is $56.44 and its 200 day moving average is $54.42.

A number of equities research analysts have recently weighed in on VRNS shares. Piper Sandler lifted their price objective on Varonis Systems from $60.00 to $66.67 and gave the company an “overweight” rating in a research note on Tuesday, February 9th. JMP Securities boosted their target price on Varonis Systems from $66.67 to $72.67 and gave the stock an “outperform” rating in a research note on Tuesday, February 9th. Berenberg Bank raised Varonis Systems from a “hold” rating to a “buy” rating and set a $84.33 target price for the company in a research note on Thursday, February 25th. Royal Bank of Canada boosted their target price on Varonis Systems from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Craig Hallum boosted their target price on Varonis Systems from $50.00 to $78.33 and gave the stock a “buy” rating in a research note on Tuesday, February 9th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $61.08.

In other news, Director Den Bosch Fred Van sold 1,500 shares of the business’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $187.97, for a total value of $281,955.00. Following the completion of the sale, the director now directly owns 47,484 shares of the company’s stock, valued at approximately $8,925,567.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yakov Faitelson sold 75,000 shares of the business’s stock in a transaction dated Monday, April 12th. The shares were sold at an average price of $53.84, for a total value of $4,038,000.00. 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 over the last three months. Company 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.

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Earnings History for Varonis Systems (NASDAQ:VRNS)

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