Varonis Systems (NASDAQ:VRNS) Announces Earnings Results

Varonis Systems (NASDAQ:VRNS) announced its quarterly earnings data on Tuesday. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24), Zacks reports. Varonis Systems had a negative return on equity of 17.58% and a negative net margin of 15.31%.

Varonis Systems Trading Up 2.0 %

Shares of VRNS stock traded up $0.94 during trading hours on Tuesday, hitting $46.84. 3,149,977 shares of the company were exchanged, compared to its average volume of 1,696,183. The firm has a market cap of $5.27 billion, a P/E ratio of -62.45 and a beta of 0.83. Varonis Systems has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a 50 day simple moving average of $46.33 and a two-hundred day simple moving average of $51.38.

Analysts Set New Price Targets

VRNS has been the topic of a number of analyst reports. Robert W. Baird increased their price objective on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a research note on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. DA Davidson reduced their price target on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Thursday, December 12th. Jefferies Financial Group reduced their price target on shares of Varonis Systems from $60.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a research note on Monday, January 6th. Five analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $59.44.

Insider Transactions at Varonis Systems

In related news, CFO Guy Melamed sold 91,345 shares of Varonis Systems stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares of the company’s stock, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.60% of the company’s stock.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, 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; source code, strategic and product plans; and other intellectual property.