Varonis Systems (NASDAQ:VRNS) Releases Quarterly Earnings Results, Beats Estimates By $0.07 EPS

Varonis Systems (NASDAQ:VRNS) issued its quarterly earnings results on Monday. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07, Briefing.com reports. The company had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 18.28% and a negative net margin of 16.97%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same period last year, the company earned ($0.35) earnings per share.

Varonis Systems Stock Up 0.0 %

VRNS opened at $55.61 on Wednesday. The business has a 50 day moving average of $45.71 and a 200-day moving average of $46.40. The stock has a market capitalization of $6.20 billion, a price-to-earnings 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 1-year low of $28.15 and a 1-year high of $56.68.

Analyst Upgrades and Downgrades

VRNS has been the topic of a number of recent analyst reports. Royal Bank of Canada boosted their price target on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday. Barclays upped their price objective on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research note on Tuesday. Susquehanna lifted their target price on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday. Piper Sandler upped their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, TD Cowen lifted their price target on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Six analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Buying and Selling

In other news, CEO Yakov Faitelson sold 284,211 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the transaction, the chief executive officer now owns 1,452,922 shares in the company, valued at approximately $65,715,662.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.