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

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

Varonis Systems Trading Up 0.4%

NASDAQ VRNS traded up $0.21 during trading on Tuesday, hitting $48.96. The company had a trading volume of 3,252,007 shares, compared to its average volume of 2,689,742. Varonis Systems has a one year low of $19.70 and a one year high of $50.31. The company has a market cap of $5.62 billion, a price-to-earnings ratio of -39.80 and a beta of 0.77. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 1.02. The company’s fifty day moving average is $47.07 and its 200-day moving average is $35.63.

Analysts Set New Price Targets

Several brokerages have recently issued reports on VRNS. Needham & Company LLC lowered Varonis Systems from a “buy” rating to a “hold” rating in a research note on Friday, October 16th. Yorkville Ives initiated coverage on Varonis Systems in a research note on Monday, October 5th. They issued an “in-line” rating and a $50.00 price target for the company. Wolfe Research downgraded shares of Varonis Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 21st. New Street Research restated a “buy” rating on shares of Varonis Systems in a research note on Wednesday, July 29th. Finally, TD Cowen cut Varonis Systems from a “buy” rating to a “hold” rating and reduced their price target for the stock from $56.00 to $49.75 in a report on Friday, October 16th. Five research analysts have rated the stock with a Buy rating, twenty-one have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.89.

Varonis Systems Company Profile

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.