Stock Track | Varonis Systems Plunges 6.06% in Pre-market Trading as Growth Concerns Linger

Stock Track02-05

Varonis Systems Inc. (VRNS) experienced a 6.06% pre-market plunge on Wednesday, with its stock trading lower amid lingering concerns over the company's growth prospects.

The data security software provider's shares took a hit following its fourth-quarter earnings report, which highlighted some challenges related to the company's transition to a software-as-a-service (SaaS) model. While Varonis reported strong new customer momentum and accelerated its SaaS transition timeline, the conversion process for existing customers weighed on its sales efficiency and growth rate.

Several analysts expressed concerns about the potential impact of the conversion process on Varonis' ability to drive sustainable growth in the near term. The company acknowledged that the upsell motion has been put on hold until customers are converted to the SaaS platform, acting as a headwind to its annual recurring revenue (ARR) growth and expansion efforts.

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(VRNS) experienced a 6.06% pre-market plunge on Wednesday, with its stock trading lower amid lingering concerns over the company's growth prospects.\nThe data security software ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"VRNS","symbol_name":"Varonis Systems, Inc.","start_time":0,"source_url":"","article_id":"1130900164","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1130900164","pubTimestamp":1738760551,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Varonis Systems Inc.  experienced a 6.06% pre-market plunge on Wednesday, with its stock trading lower amid lingering concerns over the company's growth prospects.The data security software provider's shares took a hit following its fourth-quarter earnings report, which highlighted some challenges related to the company's transition to a software-as-a-service  model. 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