Varonis Systems (NASDAQ:VRNS) Issues Quarterly Earnings Results

Varonis Systems (NASDAQ:VRNS) announced its quarterly earnings data on Monday. The technology company reported $0.05 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.07, Briefing.com reports. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.28%. The company had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. During the same quarter last year, the firm posted ($0.35) EPS. The company’s quarterly revenue was up 12.9% on a year-over-year basis.

Varonis Systems Price Performance

Shares of VRNS stock traded down $0.46 during trading hours on Wednesday, hitting $55.13. 2,310,562 shares of the company’s stock were exchanged, compared to its average volume of 1,294,346. The company has a market capitalization of $6.15 billion, a PE ratio of -59.14 and a beta of 0.83. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55. Varonis Systems has a 12-month low of $28.15 and a 12-month high of $57.00. The business’s 50 day simple moving average is $45.71 and its 200-day simple moving average is $46.40.

Wall Street Analyst Weigh In

Several research firms have weighed in on VRNS. Wedbush lifted their price target on shares of Varonis Systems from $65.00 to $67.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays boosted their target price on Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday. Robert W. Baird upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $52.00 to $60.00 in a report on Tuesday. TD Cowen boosted their price objective on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Royal Bank of Canada increased their target price on Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Tuesday. Six equities research 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 company’s stock. According to MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Insiders Place Their Bets

In related news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total value of $12,854,863.53. Following the sale, the chief executive officer now owns 1,452,922 shares in the company, valued at $65,715,662.06. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Varonis Systems Company Profile

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.