Yahoo Finance What To Expect From Varonis's (VRNS) Q2 Earnings
Data protection and security software company Varonis (NASDAQ:VRNS) will be reporting results tomorrow after the bell. Here's what you need to know.
Varonis met analysts' revenue expectations last quarter, reporting revenues of $114 million, up 6.2% year on year. It was a mixed quarter for the company, with a solid beat of analysts' billings estimates but a decline in its gross margin.
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 8.2% year on year to $124.9 million, improving from the 3.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.02 per share.
The majority of analysts covering the company have 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 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 to get a hint at how this quarter will unravel for cybersecurity stocks. However, there has been positive investor sentiment in the segment, with share prices up 2.9% on average over the last month. Varonis is up 2.1% during the same time and is heading into earnings with an average analyst price target of $51.8 (compared to the current share price of $48.5).
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