Varonis Systems (NASDAQ:VRNS) Issues Quarterly 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 (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.05, MarketWatch Earnings reports. The business had revenue of $74.79 million for the quarter, compared to the consensus estimate of $69.02 million. Varonis Systems had a negative return on equity of 97.77% and a negative net margin of 33.75%. The company’s quarterly revenue was up 38.0% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.56) earnings per share.

NASDAQ:VRNS traded down $1.06 during mid-day trading on Tuesday, reaching $50.61. The company’s stock had a trading volume of 2,356,387 shares, compared to its average volume of 1,428,266. The company has a quick ratio of 2.69, a current ratio of 2.69 and a debt-to-equity ratio of 2.74. Varonis Systems has a 1 year low of $22.07 and a 1 year high of $75.33. The stock has a fifty day moving average of $56.44 and a 200-day moving average of $54.42. The firm has a market capitalization of $5.37 billion, a PE ratio of -17.25 and a beta of 1.12.

In other Varonis Systems news, Director Den Bosch Fred Van sold 1,500 shares of the company’s stock in a transaction on Monday, March 1st. The stock was sold at an average price of $187.97, for a total transaction of $281,955.00. Following the completion of the sale, the director now owns 47,484 shares in the company, valued at $8,925,567.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP David Bass sold 58,750 shares of the stock in a transaction 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 sale, the executive vice president now directly owns 179,487 shares in the company, valued at approximately $33,635,863.80. The disclosure for this sale can be found here. Insiders have sold a total of 277,799 shares of company stock worth $40,694,906 in the last three months. Insiders own 2.70% of the company’s stock.

Several research firms recently weighed in on VRNS. Berenberg Bank upgraded Varonis Systems from a “hold” rating to a “buy” rating and set a $84.33 price target on the stock in a report on Thursday, February 25th. Royal Bank of Canada raised their target price on shares of Varonis Systems from $72.00 to $75.00 and gave the stock an “outperform” rating in a report on Tuesday. Morgan Stanley lifted their price target on shares of Varonis Systems from $50.67 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 28th. JMP Securities raised their price objective on shares of Varonis Systems from $66.67 to $72.67 and gave the stock an “outperform” rating in a research note on Tuesday, February 9th. Finally, Needham & Company LLC cut their target price on Varonis Systems to $75.00 and set a “buy” rating on the stock in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock 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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