Varonis Systems (NASDAQ:VRNS) Posts Earnings Results, Beats Expectations By $0.06 EPS

Key Points

• Varonis Systems reported quarterly EPS of $0.09, beating analyst expectations of $0.03 by $0.06. Revenue was $189.46 million, also above the $186.74 million estimate.
• The stock rose 0.4% to $48.96 during Tuesday trading, near its 12-month high of $50.31.
• Analysts remain cautious, with a consensus “Hold” rating and a $50.89 average price target. The company reported a negative net margin of 20.55% for the quarter.

Varonis Systems (NASDAQ:VRNS - Get Free Report) issued its quarterly earnings data on Tuesday. The technology company reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06, FiscalAI reports. The company had revenue of $189.46 million during the quarter, compared to analyst estimates of $186.74 million. Varonis Systems had a negative return on equity of 19.18% and a negative net margin of 20.55%.

Varonis Systems Stock Up 0.4%

NASDAQ:VRNS traded up $0.21 during trading hours on Tuesday, reaching $48.96. The company's stock had a trading volume of 3,251,903 shares, compared to its average volume of 2,689,740. The company has a market capitalization of $5.62 billion, a P/E ratio of -39.80 and a beta of 0.77. Varonis Systems has a 12 month low of $19.70 and a 12 month high of $50.31. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.65 and a current ratio of 1.65. The stock has a 50 day moving average price of $47.07 and a two-hundred day moving average price of $35.63.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Yorkville Ives began coverage on shares of Varonis Systems in a report on Monday, October 5th. They issued an "in-line" rating and a $50.00 price objective on the stock. B. Riley Financial lowered shares of Varonis Systems from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 16th. Needham & Company LLC downgraded Varonis Systems from a "buy" rating to a "hold" rating in a research note on Friday, October 16th. Robert W. Baird lifted their price objective on Varonis Systems from $45.00 to $50.00 and gave the stock a "neutral" rating in a research note on Friday, October 16th. Finally, Piper Sandler lowered Varonis Systems from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $58.00 to $49.75 in a research note on Friday, October 16th. Five investment analysts have rated the stock with a Buy rating, twenty-one have given a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $50.89.

Varonis Systems Company Profile

Varonis Systems, Inc develops data security software that helps organizations protect sensitive information, identify security risks and manage access to data. Its platform is designed to secure data stored across on-premises file systems, cloud environments, software-as-a-service applications and other enterprise repositories.

The company's products support data discovery and classification, access analysis, threat detection, insider-risk monitoring, data loss prevention and security automation.

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