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

Varonis Systems (NASDAQ:VRNS) posted its quarterly earnings results on Tuesday. The technology company reported ($0.10) earnings per share 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 Up 2.0 %

Shares of NASDAQ:VRNS traded up $0.94 during trading on Tuesday, hitting $46.84. 3,141,700 shares of the company were exchanged, compared to its average volume of 1,696,183. Varonis Systems has a fifty-two week low of $41.13 and a fifty-two week high of $60.58. The stock has a market cap of $5.27 billion, a price-to-earnings ratio of -62.45 and a beta of 0.83. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 1.05. The firm has a fifty day moving average price of $46.33 and a two-hundred day moving average price of $51.38.

Insider Activity

In other news, CFO Guy Melamed sold 91,345 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $53.70, for a total transaction of $4,905,226.50. Following the completion of the sale, the chief financial officer now owns 504,598 shares in the company, valued at approximately $27,096,912.60. This trade represents a 15.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on VRNS shares. Jefferies Financial Group dropped their price objective on Varonis Systems from $60.00 to $50.00 and set a “hold” rating for the company in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price objective on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday, October 28th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Varonis Systems in a research note on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 23rd. Finally, Needham & Company LLC reissued a “buy” rating and issued a $67.00 price target on shares of Varonis Systems in a report on Monday, January 6th. Five investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $59.44.

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.