Varonis Systems (NASDAQ:VRNS) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Varonis Systems (NASDAQ:VRNS) released its earnings results on Tuesday. The technology company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.06, FiscalAI reports. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%. The firm had revenue of $189.46 million for the quarter, compared to the consensus estimate of $186.74 million.

Varonis Systems Price Performance

Shares of VRNS traded up $0.21 during trading hours on Tuesday, hitting $48.96. 3,251,903 shares of the stock were exchanged, compared to its average volume of 2,689,740. The stock’s 50-day moving average price is $47.07 and its two-hundred day moving average price is $35.63. Varonis Systems has a 12-month low of $19.70 and a 12-month high of $50.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.65 and a current ratio of 1.65. The company has a market cap of $5.62 billion, a price-to-earnings ratio of -39.80 and a beta of 0.77.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on VRNS shares. Needham & Company LLC cut Varonis Systems from a “buy” rating to a “hold” rating in a report on Friday, October 16th. UBS Group lifted their target price on shares of Varonis Systems from $37.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, July 21st. TD Cowen cut shares of Varonis Systems from a “buy” rating to a “hold” rating and cut their target price for the stock from $56.00 to $49.75 in a research note on Friday, October 16th. Wedbush upped their price target on shares of Varonis Systems from $46.00 to $49.75 and gave the stock a “neutral” rating in a research report on Friday, October 16th. Finally, Royal Bank Of Canada downgraded shares of Varonis Systems from an “outperform” rating to a “neutral” rating in a research report on Friday, October 16th. Five analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $50.89.

About Varonis Systems

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company’s products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.