Varonis Systems Inc (VRNS) Releases Earnings Results, Beats Expectations By $0.05 EPS

Varonis Systems Inc (VRNS) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $-0.12 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.05. Analysts had a consensus of $-0.17. The company posted revenue of $38.60 million in the period, compared to analysts expectations of $36.59 million. The company’s revenue was up 32.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.18 EPS.

Many Wall Street Analysts have commented on Varonis Systems Inc. Company shares were Reiterated by Barclays on Jul 15, 2016 to “Equal Weight”, Firm has raised the Price Target to $ 27 from a previous price target of $20 .Company shares were Reiterated by Imperial Capital on May 16, 2016 to “Outperform”, Firm has raised the Price Target to $ 27 from a previous price target of $26 .

Varonis Systems Inc opened for trading at $25.8 and hit $25.99 on the upside on Monday, eventually ending the session at $25.72, with a gain of 0.35% or 0.09 points. The heightened volatility saw the trading volume jump to 1,19,451 shares. Company has a market cap of $674 M.

In a different news, on Aug 1, 2016, Yakov Faitelson (CEO, President, Chairman) sold 10,683 shares at $26.00 per share price. According to the SEC, on Aug 1, 2016, Ohad Korkus (Chief Technology Officer) sold 10,292 shares at $26.00 per share price. On Aug 1, 2016, Gili Iohan (Chief Financial Officer) sold 5,000 shares at $26.00 per share price, according to the Form-4 filing with the securities and exchange commission.

Varonis Systems Inc. provides a software platform that allows enterprises to map analyze manage and their unstructured data. The Company specializes in human-generated data a type of unstructured data that includes an enterprise’s spreadsheets word processing documents presentations audio files video files e-mails text messages and any other data created by employees. Its product portfolio includes DatAdvantage DataPrivilege IDU Classification Framework Data Transport Engine DatAnywhere and DatAnswers. Its Metadata Framework is a technology platform that extracts metadata from an enterprise’s information technology (IT) infrastructure and uses this information to map functional relationships among employees data objects content and usage. IT and business personnel deploy its software for a variety of use cases including data governance data security archiving file synchronization mobile data accessibility and information collaboration.

Varonis Systems Inc

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