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

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

Varonis Systems Stock Performance

NASDAQ VRNS traded up $0.94 on Tuesday, hitting $46.84. 3,149,977 shares of the stock were exchanged, compared to its average volume of 1,696,183. The company has a market capitalization of $5.27 billion, a PE ratio of -62.45 and a beta of 0.83. The business’s fifty day moving average is $46.33 and its 200 day moving average is $51.38. Varonis Systems has a 52 week low of $41.13 and a 52 week high of $60.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.81 and a quick ratio of 1.81.

Analyst Ratings Changes

A number of research firms recently weighed in on VRNS. Royal Bank of Canada reissued an “outperform” rating and set a $65.00 price target on shares of Varonis Systems in a research note on Wednesday, October 30th. DA Davidson decreased their price objective on shares of Varonis Systems from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Thursday, December 12th. JPMorgan Chase & Co. boosted their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 28th. Cantor Fitzgerald assumed coverage on shares of Varonis Systems in a report on Thursday, January 9th. They set an “overweight” rating and a $60.00 price objective for the company. Finally, Barclays boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Five analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of “Moderate Buy” and an average price target of $59.44.

Insider Activity

In other news, CFO Guy Melamed sold 91,345 shares of the stock in a transaction dated 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 transaction, the chief financial officer now directly owns 504,598 shares of the company’s stock, valued at $27,096,912.60. This represents a 15.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

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.