Varonis Systems (NASDAQ:VRNS) Updates Q2 2021 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its second quarter 2021 earnings guidance on Monday morning. The company provided earnings per share guidance of -0.040–0.030 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $-0.040. The company issued revenue guidance of $82.50 million-$84 million, compared to the consensus revenue estimate of $82.51 million.Varonis Systems also updated its FY 2021 guidance to -0.010-0.020 EPS.

NASDAQ VRNS traded down $1.10 during trading hours on Monday, reaching $44.47. 13,712 shares of the stock traded hands, compared to its average volume of 1,391,687. The stock has a 50 day simple moving average of $52.49 and a two-hundred day simple moving average of $54.75. Varonis Systems has a 1 year low of $24.11 and a 1 year high of $75.33. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.69 and a quick ratio of 2.69. The company has a market cap of $4.72 billion, a price-to-earnings ratio of -15.68 and a beta of 1.12.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings results on Sunday, May 2nd. The technology company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.05. Varonis Systems had a negative return on equity of 97.77% and a negative net margin of 33.75%. The business had revenue of $74.79 million for the quarter, compared to the consensus estimate of $69.02 million. During the same quarter last year, the business posted ($0.56) earnings per share. The company’s revenue for the quarter was up 38.0% on a year-over-year basis. On average, sell-side analysts forecast that Varonis Systems will post -2.73 EPS for the current fiscal year.

Several research firms have recently commented on VRNS. Berenberg Bank upgraded Varonis Systems from a hold rating to a buy rating and set a $84.33 price objective for the company in a research note on Thursday, February 25th. UBS Group assumed coverage on shares of Varonis Systems in a report on Tuesday, March 30th. They issued a buy rating and a $62.00 target price for the company. Barclays increased their price objective on shares of Varonis Systems from $58.33 to $63.67 and gave the company an equal weight rating in a report on Tuesday, February 9th. Craig Hallum increased their price target on shares of Varonis Systems from $50.00 to $78.33 and gave the company a buy rating in a report on Tuesday, February 9th. Finally, Royal Bank of Canada increased their price target on shares of Varonis Systems from $72.00 to $75.00 and gave the company an outperform rating in a report on Tuesday, May 4th. Three investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus price target of $62.93.

In related news, Director Den Bosch Fred Van sold 4,500 shares of Varonis Systems stock in a transaction that occurred on Thursday, April 1st. The shares were sold at an average price of $52.27, for a total transaction of $235,215.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Yakov Faitelson sold 75,000 shares of the firm’s stock in a transaction on Monday, April 12th. The stock was sold at an average price of $53.84, for a total transaction of $4,038,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 282,299 shares of company stock worth $40,933,811. Corporate insiders own 2.70% of the company’s stock.

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 and Estimates for Varonis Systems (NASDAQ:VRNS)

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