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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 7/10

vs
industry
vs
history
Cash-to-Debt No Debt
VRNS's Cash-to-Debt is ranked higher than
79% of the 1984 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 6.56 vs. VRNS: No Debt )
Ranked among companies with meaningful Cash-to-Debt only.
VRNS' s Cash-to-Debt Range Over the Past 10 Years
Min: No Debt  Med: No Debt Max: No Debt
Current: No Debt
Equity-to-Asset 0.46
VRNS's Equity-to-Asset is ranked lower than
69% of the 1901 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 0.60 vs. VRNS: 0.46 )
Ranked among companies with meaningful Equity-to-Asset only.
VRNS' s Equity-to-Asset Range Over the Past 10 Years
Min: -1.34  Med: 0.5 Max: 0.71
Current: 0.46
-1.34
0.71
Piotroski F-Score: 5
Altman Z-Score: 8.29
Beneish M-Score: -2.66
WACC vs ROIC
4.29%
-526.46%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating Margin % -7.56
VRNS's Operating Margin % is ranked lower than
76% of the 1924 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 4.78 vs. VRNS: -7.56 )
Ranked among companies with meaningful Operating Margin % only.
VRNS' s Operating Margin % Range Over the Past 10 Years
Min: -17.08  Med: -8.55 Max: -2.91
Current: -7.56
-17.08
-2.91
Net Margin % -7.91
VRNS's Net Margin % is ranked lower than
74% of the 1925 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 3.43 vs. VRNS: -7.91 )
Ranked among companies with meaningful Net Margin % only.
VRNS' s Net Margin % Range Over the Past 10 Years
Min: -19.14  Med: -10.02 Max: -7.91
Current: -7.91
-19.14
-7.91
ROE % -19.27
VRNS's ROE % is ranked lower than
81% of the 1866 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 6.42 vs. VRNS: -19.27 )
Ranked among companies with meaningful ROE % only.
VRNS' s ROE % Range Over the Past 10 Years
Min: -74.58  Med: -23.83 Max: -19.27
Current: -19.27
-74.58
-19.27
ROA % -8.93
VRNS's ROA % is ranked lower than
76% of the 1992 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 2.97 vs. VRNS: -8.93 )
Ranked among companies with meaningful ROA % only.
VRNS' s ROA % Range Over the Past 10 Years
Min: -24.59  Med: -15.87 Max: -8.93
Current: -8.93
-24.59
-8.93
ROC (Joel Greenblatt) % -50.04
VRNS's ROC (Joel Greenblatt) % is ranked lower than
74% of the 1954 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 21.87 vs. VRNS: -50.04 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
VRNS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -680.23  Med: -246.18 Max: -35.36
Current: -50.04
-680.23
-35.36
3-Year Revenue Growth Rate -31.30
VRNS's 3-Year Revenue Growth Rate is ranked lower than
92% of the 1618 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 5.30 vs. VRNS: -31.30 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
VRNS' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: -15.65 Max: -29.2
Current: -31.3
3-Year EBITDA Growth Rate -26.70
VRNS's 3-Year EBITDA Growth Rate is ranked lower than
86% of the 1432 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 7.30 vs. VRNS: -26.70 )
Ranked among companies with meaningful 3-Year EBITDA Growth Rate only.
VRNS' s 3-Year EBITDA Growth Rate Range Over the Past 10 Years
Min: 0  Med: -13.35 Max: -13.7
Current: -26.7
3-Year EPS without NRI Growth Rate -29.70
VRNS's 3-Year EPS without NRI Growth Rate is ranked lower than
86% of the 1341 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 8.10 vs. VRNS: -29.70 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
VRNS' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: -14.85 Max: -13.3
Current: -29.7
GuruFocus has detected 3 Warning Signs with Varonis Systems Inc VRNS.
More than 500,000 people have already joined GuruFocus to track the stocks they follow and exchange investment ideas.
» VRNS's 30-Y Financials

Financials (Next Earnings Date: 2018-02-08)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q4 2016

VRNS Guru Trades in Q4 2016

Ron Baron 63,100 sh (+100.32%)
Paul Tudor Jones 31,695 sh (+95.25%)
Chuck Royce 2,600 sh (unchged)
Jim Simons Sold Out
» More
Q1 2017

VRNS Guru Trades in Q1 2017

Jim Simons 10,700 sh (New)
John Hussman 100,000 sh (New)
Ron Baron 204,402 sh (+223.93%)
Chuck Royce 2,600 sh (unchged)
Paul Tudor Jones 10,268 sh (-67.60%)
» More
Q2 2017

VRNS Guru Trades in Q2 2017

Jim Simons 450,700 sh (+4112.15%)
Ron Baron 222,529 sh (+8.87%)
Chuck Royce 2,600 sh (unchged)
Paul Tudor Jones Sold Out
John Hussman 50,000 sh (-50.00%)
» More
Q3 2017

VRNS Guru Trades in Q3 2017

Paul Tudor Jones 5,219 sh (New)
Chuck Royce 2,600 sh (unchged)
John Hussman 50,000 sh (unchged)
Ron Baron 189,746 sh (-14.73%)
Jim Simons 340,400 sh (-24.47%)
» More
» Details

Insider Trades

Latest Guru Trades with VRNS

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2017-09-30 Reduce -14.73%0.01%$35.65 - $42.05 $ 52.1035%189,746
Ron Baron 2017-06-30 Add 8.87%$30.45 - $37.7 $ 52.1052%222,529
Ron Baron 2017-03-31 Add 223.93%0.02%$26.75 - $31.8 $ 52.1081%204,402
Ron Baron 2016-12-31 Add 100.32%0.01%$24.85 - $31.1 $ 52.1083%63,100
Premium More recent guru trades are included for Premium Members only!!
Premium More recent guru trades are included for USA Subscribe Members only!!
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Business Description

Industry: Application Software » Software - Infrastructure    NAICS: 511210    SIC: 7372
Compare:NYSE:CUDA, NAS:TLND, SGX:5CP, LSE:FDSA, NAS:HDP, TSE:4686, NAS:FIVN, NYSE:YEXT, NYSE:EVTC, NAS:APPN, NAS:CSGS, SZSE:300096, NAS:CYBR, SHSE:600571, SZSE:002090, NAS:LPSN, NSE:PERSISTENT, NAS:XELA, ASX:ACX, TSE:9928 » details
Traded in other countries:VS2.Germany,
Headquarter Location:USA
Varonis Systems Inc provides software solutions that protect data from insider threats and cyberattacks. It allows organisations to analyze, secure, manage, and migrate unstructured data.

Varonis Systems Inc provides software solutions that protect data from insider threats and cyberattacks. It allows organizations to analyze, secure, manage, and migrate unstructured data. The company is engaged in file and email systems that store spreadsheets, word processing documents, presentations, audio and video files, emails and text which contains financial information, product plans, strategic initiatives, intellectual property, and confidential employee, customer or patient records. Its software is used in cases such as data security, governance and compliance, user behavior analytics, archiving, search, and file synchronization and sharing. The group derives revenue from source of licensing of software, sale of professional services, maintenance and technical support.

Guru Investment Theses on Varonis Systems Inc

Baron Opportunity Fund Comments on Varonis Systems - Apr 20, 2017

We initiated a position in Varonis Systems, Inc. (NASDAQ:VRNS) this quarter. Varonis helps organizations manage and protect their unstructured human-generated data (think office documents, PDFs, etc.) through a unique mouse trap – a proprietary software engine that captures, stores and analyzes the metadata of files in real time. We like to think that Varonis is doing inside the enterprise what Google is doing over the internet – if you have an easy way to index every file and track its use, you can provide high value-add services. One of these important services is insider threat protection. Varonis enables information technology managers to understand, in real time, where their data is, who has access to it and how it’s being used. This service has proven to be a highly effective tool in combatting the growing problem of ransomware. This has been one of the fundamental growth drivers for the company over the last year. Varonis has additional products and services, which we believe over time it will be able to sell into their existing and new customers. We believe Varonis plays in a large market with strong growth trends and benign competition. We like the pace of innovation and execution of the company and its consistency and look forward to seeing more from team Varonis in the future.



From the Baron Opportunity Fund first quarter 2017 shareholder letter.



Check out Ron Baron latest stock trades

Ratios

vs
industry
vs
history
Forward PE Ratio 232.56
VRNS's Forward PE Ratio is ranked lower than
97% of the 298 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 22.88 vs. VRNS: 232.56 )
Ranked among companies with meaningful Forward PE Ratio only.
N/A
PB Ratio 16.46
VRNS's PB Ratio is ranked lower than
92% of the 1848 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 3.13 vs. VRNS: 16.46 )
Ranked among companies with meaningful PB Ratio only.
VRNS' s PB Ratio Range Over the Past 10 Years
Min: 4.57  Med: 8.02 Max: 16.46
Current: 16.46
4.57
16.46
PS Ratio 7.11
VRNS's PS Ratio is ranked lower than
77% of the 1840 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 2.37 vs. VRNS: 7.11 )
Ranked among companies with meaningful PS Ratio only.
VRNS' s PS Ratio Range Over the Past 10 Years
Min: 1.22  Med: 4.55 Max: 7.48
Current: 7.11
1.22
7.48
Price-to-Free-Cash-Flow 159.32
VRNS's Price-to-Free-Cash-Flow is ranked lower than
93% of the 681 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 26.25 vs. VRNS: 159.32 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
VRNS' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 118.35  Med: 186.84 Max: 905.94
Current: 159.32
118.35
905.94
Price-to-Operating-Cash-Flow 103.18
VRNS's Price-to-Operating-Cash-Flow is ranked lower than
93% of the 850 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 18.64 vs. VRNS: 103.18 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
VRNS' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 72.49  Med: 106.29 Max: 533.11
Current: 103.18
72.49
533.11
EV-to-EBIT -88.07
VRNS's EV-to-EBIT is ranked lower than
99.99% of the 1275 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 19.16 vs. VRNS: -88.07 )
Ranked among companies with meaningful EV-to-EBIT only.
VRNS' s EV-to-EBIT Range Over the Past 10 Years
Min: -88.07  Med: -33.15 Max: -11.3
Current: -88.07
-88.07
-11.3
EV-to-EBITDA -106.03
VRNS's EV-to-EBITDA is ranked lower than
99.99% of the 1386 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 15.27 vs. VRNS: -106.03 )
Ranked among companies with meaningful EV-to-EBITDA only.
VRNS' s EV-to-EBITDA Range Over the Past 10 Years
Min: -106.03  Med: -36.15 Max: -12.5
Current: -106.03
-106.03
-12.5
EV-to-Revenue 6.66
VRNS's EV-to-Revenue is ranked lower than
73% of the 1894 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 2.40 vs. VRNS: 6.66 )
Ranked among companies with meaningful EV-to-Revenue only.
VRNS' s EV-to-Revenue Range Over the Past 10 Years
Min: 1.4  Med: 4.5 Max: 8.3
Current: 6.66
1.4
8.3
Current Ratio 1.94
VRNS's Current Ratio is ranked higher than
50% of the 1846 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 1.89 vs. VRNS: 1.94 )
Ranked among companies with meaningful Current Ratio only.
VRNS' s Current Ratio Range Over the Past 10 Years
Min: 1.06  Med: 2.1 Max: 3.67
Current: 1.94
1.06
3.67
Quick Ratio 1.94
VRNS's Quick Ratio is ranked higher than
54% of the 1846 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 1.75 vs. VRNS: 1.94 )
Ranked among companies with meaningful Quick Ratio only.
VRNS' s Quick Ratio Range Over the Past 10 Years
Min: 1.06  Med: 2.1 Max: 3.67
Current: 1.94
1.06
3.67
Days Sales Outstanding 82.13
VRNS's Days Sales Outstanding is ranked lower than
63% of the 1588 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 66.91 vs. VRNS: 82.13 )
Ranked among companies with meaningful Days Sales Outstanding only.
VRNS' s Days Sales Outstanding Range Over the Past 10 Years
Min: 82.13  Med: 136.65 Max: 143.74
Current: 82.13
82.13
143.74
Days Payable 25.57
VRNS's Days Payable is ranked lower than
67% of the 1405 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 42.91 vs. VRNS: 25.57 )
Ranked among companies with meaningful Days Payable only.
VRNS' s Days Payable Range Over the Past 10 Years
Min: 25.57  Med: 93.59 Max: 146.87
Current: 25.57
25.57
146.87

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -90.50
VRNS's 3-Year Average Share Buyback Ratio is ranked lower than
95% of the 1345 Companies
in the Global Software - Infrastructure industry.

( Industry Median: -3.00 vs. VRNS: -90.50 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
VRNS' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -90.7  Med: -45.25 Max: 0
Current: -90.5
-90.7
0

Valuation & Return

vs
industry
vs
history
Price-to-Net-Cash 58.54
VRNS's Price-to-Net-Cash is ranked lower than
85% of the 579 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 12.00 vs. VRNS: 58.54 )
Ranked among companies with meaningful Price-to-Net-Cash only.
VRNS' s Price-to-Net-Cash Range Over the Past 10 Years
Min: 7.76  Med: 46.8 Max: 97.38
Current: 58.54
7.76
97.38
Price-to-Net-Current-Asset-Value 19.15
VRNS's Price-to-Net-Current-Asset-Value is ranked lower than
75% of the 1147 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 7.83 vs. VRNS: 19.15 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
VRNS' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 5.69  Med: 8.76 Max: 19.15
Current: 19.15
5.69
19.15
Price-to-Tangible-Book 16.44
VRNS's Price-to-Tangible-Book is ranked lower than
82% of the 1546 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 4.70 vs. VRNS: 16.44 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
VRNS' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 5.09  Med: 8.52 Max: 16.44
Current: 16.44
5.09
16.44
Price-to-Median-PS-Value 1.57
VRNS's Price-to-Median-PS-Value is ranked lower than
63% of the 1639 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 1.12 vs. VRNS: 1.57 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
VRNS' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.45  Med: 0.95 Max: 1.57
Current: 1.57
0.45
1.57
Earnings Yield (Greenblatt) % -1.16
VRNS's Earnings Yield (Greenblatt) % is ranked lower than
70% of the 1997 Companies
in the Global Software - Infrastructure industry.

( Industry Median: 2.11 vs. VRNS: -1.16 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
VRNS' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -8.8  Med: -3 Max: -1.16
Current: -1.16
-8.8
-1.16

More Statistics

Revenue (TTM) (Mil) $198.56
EPS (TTM) $ -0.56
Beta0.32
Short Percentage of Float1.56%
52-Week Range $24.75 - 52.00
Shares Outstanding (Mil)27.84

Analyst Estimate

Dec17 Dec18 Dec19
Revenue (Mil $) 210 248 292
EPS ($) 0.12 0.21 0.49
EPS without NRI ($) 0.12 0.21 0.49
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 55
Positive ROAN
Positive CFROAY
Higher ROA yoyY
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyN
Higher Gross Margin yoyN
Higher Asset Turnover yoyY

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