Varonis Systems (NASDAQ:VRNS) Issues Quarterly Earnings Results, Beats Expectations By $0.24 EPS

Varonis Systems (NASDAQ:VRNSGet Rating) released its quarterly earnings results on Monday. The technology company reported ($0.09) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.24, MarketWatch Earnings reports. Varonis Systems had a negative net margin of 29.95% and a negative return on equity of 17.48%. During the same quarter last year, the firm earned ($0.34) EPS. Varonis Systems updated its Q2 guidance to -(0.02-0.01) EPS and its FY22 guidance to $0.16-0.18 EPS.

NASDAQ:VRNS opened at $43.67 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.53 and a quick ratio of 4.53. The firm has a market capitalization of $4.78 billion, a price-to-earnings ratio of -38.99 and a beta of 1.28. The company’s 50-day moving average is $44.62 and its two-hundred day moving average is $47.64. Varonis Systems has a 1-year low of $32.11 and a 1-year high of $73.46.

In other Varonis Systems news, Director Den Bosch Fred Van sold 3,000 shares of the stock in a transaction dated Wednesday, April 13th. The shares were sold at an average price of $50.00, for a total transaction of $150,000.00. Following the completion of the transaction, the director now owns 116,945 shares of the company’s stock, valued at $5,847,250. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ofer Segev sold 1,500 shares of the stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $45.38, for a total transaction of $68,070.00. Following the transaction, the director now directly owns 71,802 shares of the company’s stock, valued at approximately $3,258,374.76. The disclosure for this sale can be found here. Insiders sold a total of 5,500 shares of company stock worth $268,070 over the last quarter. 1.90% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new position in Varonis Systems in the 4th quarter valued at about $81,000. Advisors Asset Management Inc. grew its position in Varonis Systems by 233.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,668 shares of the technology company’s stock valued at $130,000 after acquiring an additional 1,869 shares in the last quarter. Stifel Financial Corp grew its position in Varonis Systems by 49.7% in the 4th quarter. Stifel Financial Corp now owns 6,129 shares of the technology company’s stock valued at $299,000 after acquiring an additional 2,035 shares in the last quarter. Woodline Partners LP acquired a new position in Varonis Systems in the 4th quarter valued at about $486,000. Finally, Glenmede Trust Co. NA grew its position in Varonis Systems by 3.5% in the 4th quarter. Glenmede Trust Co. NA now owns 11,394 shares of the technology company’s stock valued at $555,000 after acquiring an additional 390 shares in the last quarter. 93.20% of the stock is owned by institutional investors.

Several equities research analysts recently commented on VRNS shares. Wedbush cut their price target on shares of Varonis Systems from $60.00 to $52.00 in a report on Tuesday. Wells Fargo & Company raised shares of Varonis Systems from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $46.00 to $60.00 in a report on Friday. Zacks Investment Research lowered shares of Varonis Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 12th. Citigroup started coverage on shares of Varonis Systems in a report on Monday, January 24th. They issued a “buy” rating and a $47.00 price target for the company. Finally, StockNews.com began coverage on shares of Varonis Systems in a report on Thursday, March 31st. They issued a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Varonis Systems presently has a consensus rating of “Buy” and a consensus price target of $61.00.

About Varonis Systems (Get Rating)

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; strategic and product plans; and other intellectual property.

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Earnings History for Varonis Systems (NASDAQ:VRNS)

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