These Analysts Cut Their Forecasts On Varonis Systems Following Q3 Results

Varonis Systems Inc (NASDAQ:VRNS) reported downbeat third-quarter revenue and provided fourth-quarter guidance below expectations.

Varonis Systems reported quarterly earnings of 6 cents per share which met the analyst consensus estimate. The company reported quarterly sales of $161.577 million which missed the analyst consensus estimate of $166.149 million.

Varonis Systems said it sees fourth-quarter adjusted EPS of 2 cents to 4 cents versus market estimates of 5 cents. The company expects sales of $165.00 million to $171.00 million, versus projections of $170.129 million.

Yaki Faitelson, Varonis CEO, said, “We continued to see healthy demand for our SaaS platform, which now represents 76% of total company ARR. This adoption is driven by the automated outcomes that it provides as well as customer interest in deploying AI initiatives and securing data in the cloud. At ...

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These Analysts Cut Their Forecasts On Varonis Systems Following Q3 Results

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