Bullish US Stocks Surging Higher: $VRNS $SEDG $CVNA

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Varonis Systems produces 57.14% earnings surprise in Q2


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Varonis Systems Inc. (NASDAQ:VRNS) stock is bullish and it is trading 137.83% above its 52-Week Low, and 4.44% below its 52-Week high. The company had a strong Q2 2020 and it reported 52% YoY revenue growth. Subscription revenues were up 130% to $34.1 million compared to $14.8 million in Q2 2019. However, maintenance revenue dropped from $33.3 million in 2019 to $32.2 million in Q2 2020. Yaki Faitelson the CEO of the company stated that, with the pandemic, workforces have been exposed to risks especially fro remote workers and the company is in a position to address the risks.

The company reported a 57.14% earnings surprise with a quarterly loss of $0.15 a share against Consensus Estimates of $0.35 per share. For the quarter ended June, the company posted revenue of $66.57 million.

Solaredge Technologies reports revenue of $331.9 million in Q2


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Another bullish stock is Solaredge Technologies Inc. (NASDAQ:SEDG) which is trading 221.93% above its 52-Week Low and 7.89% below its 52-Week high. The company reported its Q2 financial results in which it posted revenue of $331.9 million with revenue from solar products accounting for most of the sales at $310.1 million. GAAP net income was $36.7 million or $0.70 per share while Non-GAAP net income was $52.1 million or $0.96 per share. The company had an impressive quarter despite the COVID-19 pandemic maintaining solid profitability and operating cash flow.

SolarEdge announced that its VP Marketing and Product Strategy, Lior Handelsman will leave his position and move into venture capital. He will still be an advisor to the company's CEO on strategic projects and initiatives. SolarEdge has started the hunt for a Chief Marketing Officer.

Carvana benefiting from the growth of online car sales


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Carvana Co (NYSE:CVNA) is currently trading 652.21% above its 52-Week Low, and 2.80% below its 52-Week high and it looks bullish. Despite the pandemic, online car sales in the US are on the rise, and companies such as Carvana are enjoying the exciting uptick. CEO Ernie Gracia stated that with COVID-19 there has been a shift to online purchases. Carvana has grown threefold in the past six years.

Analysts expect the company to report YoY earnings to decline on higher revenues for the quarter ended June 2020. Carvana is expected to post 15.3% YoY growth in revenues to $1.14 billion and a loss of 79 cents per share.

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