Varonis Systems, Inc. (VRNS)
Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Varonis Systems, Inc. ("Varonis" or the "Company") (NASDAQ: VRNS). Investors who purchased Varonis securities are encouraged to obtain additional information and assist the investigation.
The investigation concerns whether Varonis and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On October 31, 2022, Varonis issued a press release announcing the Company's financial results for the third quarter of 2022. Among other items, Varonis reported earnings per share of $0.05 on revenue of $123.3 million, which fell short of analysts' estimates of earnings per share of $0.06 on revenue of $124.4 million. Varonis further state that it expects fourth-quarter earnings
per share of $0.17 to $0.18, on revenue in a range of $139 million to $142 million, significantly lower than consensus estimates of earnings per share of $0.22 on $155.6 million in revenue. Speaking on a conference call, Varonis's Chief Executive Office Yaki Faitelson said "the continued effect of the war in the Ukraine, the energy crisis and general economic slowdown were more impactful than we expected" upon the Company's business.
On this news, Varonis's stock price fell $9.50 per share, or 35.49%, to close at $17.27 per share on November 1, 2022.
If you are aware of any facts relating to this investigation or purchased Varonis shares, you can assist this investigation. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Nathanson of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm’s expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.