Data protection and security software company Varonis (NASDAQ:VRNS) will be reporting results tomorrow afternoon. Here’s what to expect.
Varonis beat analysts’ revenue expectations by 4.6% last quarter, reporting revenues of $148.1 million, up 21.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and full-year EPS guidance exceeding analysts’ expectations.
Is Varonis a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Varonis’s revenue to grow 7.4% year on year to $165.5 million, in line with the 8.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Varonis has missed Wall Street’s revenue estimates four 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 to get a hint at how this quarter will unravel for cybersecurity stocks. However, investors in the segment have had steady hands going into earnings, with share prices flat over the last month. Varonis’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $57.06 (compared to the current share price of $44.87).
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