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

Varonis Systems (NASDAQ:VRNS) posted its quarterly earnings results on Monday. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. During the same period in the previous year, the business posted ($0.35) earnings per share. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis.

Varonis Systems Trading Up 0.8 %

Varonis Systems stock traded up $0.42 during midday trading on Wednesday, reaching $56.01. 861,370 shares of the stock traded hands, compared to its average volume of 1,284,420. The firm has a market cap of $6.25 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. The company has a 50-day simple moving average of $45.71 and a two-hundred day simple moving average of $46.40. Varonis Systems has a 12-month low of $28.15 and a 12-month high of $57.00.

Insiders Place Their Bets

In other news, CEO Yakov Faitelson sold 284,211 shares of the firm’s stock in a transaction that occurred 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 completion of 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 is available at the SEC website. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on VRNS. Barclays upped their price target 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 raised Varonis Systems from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $60.00 in a research note on Tuesday. Wells Fargo & Company boosted their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a research report on Tuesday. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. upgraded shares of Varonis Systems from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $50.00 to $54.00 in a report on Friday, June 14th. Six equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.