Why Varonis Systems Stock Jumped on Tuesday
Varonis Systems (NASDAQ: VRNS), a provider of enterprise data software, saw its shares jump as much as 11.6% on Tuesday. As of 11:40 a.m. ET, the tech stock was still up about 10%.
The stock's gain followed the small-cap company's second-quarter results, which featured revenue slightly ahead of analysts' consensus forecast for the key metric. Strong full-year guidance likely played a key role in the market's upbeat response to the report.
Varonis said its fiscal second-quarter revenue increased 26% year over year to just over $111.4 million. Analysts, on average, were expecting revenue of about $111.3 million.
Source Fool.com
