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Varonis - Solid Quarter; Buy On Weakness

May 04, 2021 8:12 AM ETVaronis Systems, Inc. (VRNS)


  • Varonis reported another solid quarter and guided up 2Q (June). Management continues to exude confidence in its growth prospects and position within the industry with its subscription portfolio.
  • Zero trust approach to protect sensitive data, Cybercrime, and compliance with data-driven regulations are the secular growth drivers for Varonis. We expect revenue growth to remain above 30% in 2021.
  • Due to the pandemic, hackers have been aggressively targeting corporations to steal data. VRNS's product portfolio has been an effective antidote to tackle the threat.
  • New customer additions and upsells to existing customers to drive growth for the company. Management looks to invest in quota-carrying headcount and R&D investments to continue the growth.
  • With solid execution, deep moat, and a reasonable valuation, impending multiple expansion, we believe VRNS has favorable risk/reward and is, therefore, a buy.

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Photo by vladwel/iStock via Getty Images

Following Varonis (NASDAQ:VRNS) stellar F1Q21 results, we recommend investors to remain invested in the stock and use the weakness to buy additional shares if possible. Varonis is one of the best small-mid

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Analyst’s Disclosure: I am/we are long VRNS. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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