Varonis Systems, Inc. (VRNS) Announces Earnings Results
Varonis Systems, Inc. (NASDAQ:VRNS) announced its quarterly earnings results on Thursday. The technology company reported $0.06 earnings per share for the quarter, Bloomberg Earnings reports. Varonis Systems had a negative return on equity of 19.29% and a negative net margin of 7.91%. The firm had revenue of $53.60 million for the quarter, compared to analysts’ expectations of $50.53 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The business’s revenue was up 31.1% compared to the same quarter last year. Varonis Systems updated its Q4 guidance to $0.28-0.29 EPS.
VRNS has been the topic of a number of analyst reports. Barclays PLC reiterated a “hold” rating and issued a $45.00 price target on shares of Varonis Systems in a research report on Wednesday, July 19th. Royal Bank Of Canada reiterated a “buy” rating and issued a $42.00 price target on shares of Varonis Systems in a research report on Thursday, July 20th. BidaskClub cut Varonis Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $44.00 price target (up from $40.00) on shares of Varonis Systems in a research report on Friday, August 4th. Finally, Imperial Capital reiterated an “outperform” rating and issued a $46.00 price target (up from $39.00) on shares of Varonis Systems in a research report on Friday, August 4th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Varonis Systems has an average rating of “Buy” and an average target price of $44.90.
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In other Varonis Systems news, SVP James O’boyle sold 40,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $40.88, for a total value of $1,635,200.00. Following the transaction, the senior vice president now owns 124,189 shares of the company’s stock, valued at $5,076,846.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Yakov Faitelson sold 50,000 shares of the company’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $44.57, for a total value of $2,228,500.00. The disclosure for this sale can be found here. In the last three months, insiders sold 459,053 shares of company stock worth $18,833,430. Insiders own 19.50% of the company’s stock.
About Varonis Systems
Varonis Systems, Inc provides a solutions that protect data from insider threats and cyberattacks. The Company’s products include DatAdvantage, DataPrivilege, Interface Data Unit Classification Framework, Data Transport Engine, DatAnywhere and DatAnswers. Its platform allows enterprises to analyze, secure, manage and migrate volumes of unstructured data.
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