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

Varonis Systems (NASDAQ:VRNS) released its earnings results on Monday. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.35) EPS.

Varonis Systems Price Performance

Shares of NASDAQ VRNS opened at $55.61 on Wednesday. The company has a market capitalization of $6.20 billion, a PE ratio of -59.14 and a beta of 0.83. The company has a quick ratio of 2.38, a current ratio of 2.38 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $45.71 and its 200-day moving average price is $46.40. Varonis Systems has a twelve month low of $28.15 and a twelve month high of $56.68.

Insider Activity at Varonis Systems

In other Varonis Systems news, CEO Yakov Faitelson sold 284,211 shares of the business’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total value of $12,854,863.53. Following the transaction, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at $65,715,662.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VRNS shares. Truist Financial reaffirmed a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday. TD Cowen upped their target price on Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research note on Tuesday. Robert W. Baird raised shares of Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $60.00 in a report on Tuesday. Wells Fargo & Company upped their target price on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, Susquehanna increased their price target on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.00.

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.