Varonis Systems (NASDAQ:VRNS) Issues Quarterly Earnings Results


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Varonis Systems (NASDAQ:VRNS) released its quarterly earnings data on Sunday. The technology company reported ($0.08) EPS for the quarter, beating the 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 company had revenue of $74.79 million for the quarter, compared to analyst estimates of $69.02 million. During the same period last year, the company posted ($0.56) earnings per share. The firm’s revenue was up 38.0% compared to the same quarter last year.

VRNS stock traded down $1.01 during midday trading on Tuesday, reaching $50.66. The company had a trading volume of 191,713 shares, 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. The stock has a 50 day moving average price of $56.44 and a 200 day moving average price of $54.42. Varonis Systems has a fifty-two week low of $20.92 and a fifty-two week high of $75.33. The firm has a market capitalization of $5.38 billion, a PE ratio of -17.25 and a beta of 1.12.

In other Varonis Systems news, Director Den Bosch Fred Van sold 4,500 shares of Varonis Systems stock in a transaction that occurred on Thursday, April 1st. The stock was sold at an average price of $52.27, for a total value of $235,215.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP David Bass sold 58,750 shares of Varonis Systems stock in a transaction that occurred 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 of the company’s stock, valued at $33,635,863.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 277,799 shares of company stock valued at $40,694,906. 2.70% of the stock is currently owned by insiders.

Several research analysts have commented on VRNS shares. Royal Bank of Canada raised their price objective on Varonis Systems from $72.00 to $75.00 and gave the company an “outperform” rating in a research report on Tuesday. FBN Securities began coverage on Varonis Systems in a research note on Tuesday, April 13th. They set an “outperform” rating and a $65.00 target price for the company. Truist raised their target price on Varonis Systems from $68.33 to $73.33 in a research note on Tuesday, February 9th. Wedbush raised their target price on Varonis Systems from $63.33 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 9th. Finally, Morgan Stanley raised their target price on Varonis Systems from $50.67 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Varonis Systems currently has an average rating of “Buy” and an average target price 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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