Varonis Systems (NASDAQ:VRNS) Posts Earnings Results, Misses Estimates By $0.24 EPS

Varonis Systems (NASDAQ:VRNS) issued its quarterly earnings results on Tuesday. The technology company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.24), Zacks reports. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.58%.

Varonis Systems Trading Up 2.0 %

VRNS stock traded up $0.94 during trading on Tuesday, hitting $46.84. 3,141,700 shares of the company traded hands, compared to its average volume of 1,696,183. The company has a debt-to-equity ratio of 1.05, a quick ratio of 1.81 and a current ratio of 1.81. The company has a 50-day moving average of $46.33 and a 200-day moving average of $51.38. The firm has a market capitalization of $5.27 billion, a PE ratio of -62.45 and a beta of 0.83. Varonis Systems has a 1 year low of $41.13 and a 1 year high of $60.58.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Barclays boosted their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Needham & Company LLC restated a “buy” rating and issued a $67.00 target price on shares of Varonis Systems in a research note on Monday, January 6th. Citigroup decreased their price objective on Varonis Systems from $57.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, January 17th. DA Davidson cut their target price on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Thursday, December 12th. Finally, Cantor Fitzgerald started coverage on shares of Varonis Systems in a research report on Thursday, January 9th. They issued an “overweight” rating and a $60.00 price target on the stock. Five 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 has an average rating of “Moderate Buy” and a consensus price target of $59.44.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, CFO Guy Melamed sold 91,345 shares of the company’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total value of $4,905,226.50. Following the completion of the transaction, the chief financial officer now directly owns 504,598 shares in the company, valued at approximately $27,096,912.60. This represents a 15.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.60% of the company’s stock.

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.