Varonis Systems (NASDAQ:VRNS) released its quarterly earnings results on Sunday. The technology company reported ($0.08) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.05, MarketWatch Earnings reports. Varonis Systems had a negative net margin of 33.75% and a negative return on equity of 97.77%. The business had revenue of $74.79 million for the quarter, compared to the consensus estimate of $69.02 million. During the same period in the prior year, the company posted ($0.56) earnings per share. Varonis Systems’s revenue was up 38.0% compared to the same quarter last year.
Shares of VRNS traded down $1.04 during midday trading on Tuesday, hitting $50.63. 147,647 shares of the company traded hands, compared to its average volume of 1,417,073. The stock has a 50-day moving average of $56.44 and a 200-day moving average of $54.42. The firm has a market cap of $5.37 billion, a P/E ratio of -17.25 and a beta of 1.12. Varonis Systems has a one year low of $20.92 and a one year high of $75.33. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.69 and a quick ratio of 2.69.
In other Varonis Systems news, VP Gilad Raz sold 18,030 shares of the business’s stock in a transaction that occurred on Monday, March 1st. The stock was sold at an average price of $185.08, for a total value of $3,336,992.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Den Bosch Fred Van sold 4,500 shares of the stock in a transaction on Thursday, April 1st. The shares were sold at an average price of $52.27, for a total transaction of $235,215.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 277,799 shares of company stock valued at $40,694,906. Insiders own 2.70% of the company’s stock.
VRNS has been the topic of a number of analyst reports. UBS Group assumed coverage on shares of Varonis Systems in a research report on Tuesday, March 30th. They set a “buy” rating and a $62.00 target price on the stock. Royal Bank of Canada increased their price objective on shares of Varonis Systems from $72.00 to $75.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist boosted their target price on shares of Varonis Systems from $68.33 to $73.33 in a research report on Tuesday, February 9th. JMP Securities increased their price target on shares of Varonis Systems from $66.67 to $72.67 and gave the stock an “outperform” rating in a research report on Tuesday, February 9th. Finally, Morgan Stanley increased their price target on Varonis Systems from $50.67 to $65.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $61.08.
About Varonis Systems
Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, 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; strategic and product plans; and other intellectual property.
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