Why Shares of Varonis Systems Jumped Today

Varonis Systems' (NASDAQ: VRNS) stock price spiked Tuesday following the release of a better-than-expected third-quarter earnings report. 

Shares of the cybersecurity and analytics company rose by as much as 13.3% in morning trading and were still up by 5.4% as of noon EDT.  

Varonis delivered its Q3 results Monday afternoon and reported non-GAAP earnings of $0.06 per share, far better than analysts' consensus estimate for a loss of $0.13 per share. Revenue of $76.8 million also beat Wall Street's estimate of $70.2 million. 

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Source Fool.com