Varonis Announces Third Quarter 2020 Financial Results

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Go back to Varonis Announces Third Quarter 2020 Financial Results

Varonis Systems (VRNS) PT Raised to $148 at Oppenheimer Following Q3 Beat

October 27, 2020 7:16 AM EDT

Oppenheimer analyst Shaul Eyal raised the price target on Varonis Systems (NASDAQ: VRNS) to $148.00 (from $125.00) while maintaining an Outperform rating.

The analyst commented, "VRNS's 3Q20 revenue of $76.8M swiftly beat the top end of guidance at $71M and consensus' $69.9M estimate while EPS... More

Varonis Systems (VRNS) Tops Q3 EPS by 19c, Revenues Beat; Offers 4Q EPS/Revenue Guidance Above Consensus

October 26, 2020 4:13 PM EDT

Varonis Systems (NASDAQ: VRNS) reported Q3 EPS of $0.06, $0.19 better than the analyst estimate of ($0.13). Revenue for the quarter came in at $76.8 million versus the consensus estimate of $70.17 million.

Financial Summary for the Third Quarter Ended September 30, 2020

Subscription revenues increased 89% to $44.1 million, or more than 99% of total license revenues, compared with $23.3 million, or 74% of total license revenues, in the third quarter of 2019. Maintenance and services revenues were $32.3 million, compared with $34.1 million in the third quarter of 2019.Total revenues increased 17% to $76.8 million, compared to $65.6 million in the third quarter of... More