Varonis Systems (NASDAQ:VRNS) Releases Q4 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its fourth quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.13-0.14 for the period, compared to the consensus EPS estimate of $0.14. The company issued revenue guidance of $162-167 million, compared to the consensus revenue estimate of $163.04 million. Varonis Systems also updated its FY 2024 guidance to 0.260-0.270 EPS.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Susquehanna increased their price target on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. UBS Group upped their target price on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, Piper Sandler lifted their target price on shares of Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $58.75.

Varonis Systems Price Performance

NASDAQ VRNS traded down $2.11 on Thursday, hitting $50.37. The stock had a trading volume of 3,117,279 shares, compared to its average volume of 1,332,400. The firm has a 50-day moving average of $56.10 and a 200-day moving average of $49.99. The company has a market capitalization of $5.62 billion, a price-to-earnings ratio of -53.59 and a beta of 0.82. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. Varonis Systems has a 52-week low of $31.56 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS) last released its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The company had revenue of $130.35 million during the quarter, compared to the consensus estimate of $124.83 million. During the same quarter in the previous year, the company posted ($0.35) EPS. Varonis Systems’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities analysts expect that Varonis Systems will post -0.83 EPS for the current year.

Insider Buying and Selling

In other news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

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.