Varonis (VRNS) Reports Earnings. What To Expect
Data protection and security software company Varonis (NASDAQ:VRNS) will be reporting earnings today. Here's what to look for.
Last quarter Varonis reported revenues of $122.3 million, flat year on year, missing analyst expectations by 2.5%. It was a weak quarter for the company, with a miss of analysts' revenue estimates.
Is Varonis buy or sell heading into the earnings? Read our full analysis here, it's free.
This quarter analysts are expecting Varonis's revenue to grow 6.4% year on year to $151.7 million, slowing down from the 12.7% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.23 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates three times over the last two years.
With Varonis being the first among its peers to report earnings this season, we don't have anywhere else to look at to get a hint at how this quarter will unravel for cybersecurity stocks, but there has been positive sentiment among investors in the segment, with the stocks up on average 4.2% over the last month. Varonis is up 1.7% during the same time, and is heading into the earnings with with analyst price target of $46.5, compared to share price of $44.5.
One way to find opportunities in the market is to watch for generational shifts in the economy. Almost every company is slowly finding itself becoming a technology company and facing cybersecurity risks and as a result, the demand for cloud-native cybersecurity is skyrocketing. This company is leading a massive technological shift in the industry and with revenue growth of 70% year on year and best-in-class SaaS metrics it should definitely be on your radar.
Join Paid Stock Investor Research
Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.
The author has no position in any of the stocks mentioned.
