Varonis Systems (NASDAQ:VRNS) Issues Q2 2024 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its second quarter 2024 earnings guidance on Monday morning. The company provided EPS guidance of -0.030–0.020 for the period, compared to the consensus EPS estimate of -0.010. The company issued revenue guidance of $123.0 million-$126.0 million, compared to the consensus revenue estimate of $125.5 million. Varonis Systems also updated its FY24 guidance to $0.13-0.16 EPS.

Analysts Set New Price Targets

VRNS has been the topic of several recent research reports. JMP Securities reiterated a market outperform rating and issued a $63.00 price target on shares of Varonis Systems in a report on Monday, February 5th. DA Davidson restated a neutral rating and issued a $45.00 price objective (up from $37.00) on shares of Varonis Systems in a report on Thursday, January 18th. Citigroup raised their price objective on shares of Varonis Systems from $35.00 to $45.00 and gave the company a neutral rating in a research note on Wednesday, January 10th. Stephens reiterated an overweight rating and set a $55.00 target price on shares of Varonis Systems in a research report on Tuesday, February 6th. Finally, Truist Financial restated a buy rating and issued a $55.00 price target (up from $50.00) on shares of Varonis Systems in a research report on Wednesday, March 13th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Varonis Systems has a consensus rating of Moderate Buy and an average target price of $48.81.

Varonis Systems Stock Up 1.9 %

VRNS traded up $0.82 during trading on Monday, hitting $44.59. The company had a trading volume of 2,097,969 shares, compared to its average volume of 1,171,959. The company has a market capitalization of $4.98 billion, a PE ratio of -47.78 and a beta of 0.84. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. Varonis Systems has a one year low of $22.87 and a one year high of $52.88. The firm’s 50-day moving average price is $47.08 and its 200 day moving average price is $44.15.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. The company had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. As a group, equities analysts expect that Varonis Systems will post -0.96 earnings per share for the current year.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of Varonis Systems stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the sale, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the transaction, the director now owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dov Gottlieb sold 43,091 shares of the stock in a transaction that occurred on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total value of $2,069,229.82. Following the completion of the sale, the vice president now directly owns 227,654 shares of the company’s stock, valued at approximately $10,931,945.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 372,419 shares of company stock worth $18,571,413. Corporate insiders own 2.60% of the company’s stock.

About Varonis Systems

Varonis Systems, Inc provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; source code, strategic and product plans; and other intellectual property.