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

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

Varonis Systems Stock Performance

VRNS traded up $0.76 during midday trading on Wednesday, reaching $56.35. The company’s stock had a trading volume of 812,609 shares, compared to its average volume of 1,283,780. 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 fifty day simple moving average of $45.71 and a 200 day simple moving average of $46.40. The stock has a market cap of $6.28 billion, a P/E ratio of -59.14 and a beta of 0.83. Varonis Systems has a twelve month low of $28.15 and a twelve month high of $57.00.

Insider Transactions at Varonis Systems

In related news, CEO Yakov Faitelson sold 284,211 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $65,715,662.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on VRNS shares. Royal Bank of Canada boosted their target price on shares of Varonis Systems from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Tuesday. Susquehanna upped their price objective on shares of Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday. TD Cowen upped their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday. Wedbush raised their target price on shares of Varonis Systems from $65.00 to $67.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Baird R W raised shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research report on Tuesday. 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’s stock. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus target price of $55.00.

About Varonis Systems

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.