Varonis Systems (NASDAQ:VRNS) Issues Q4 2024 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its fourth quarter 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 0.130-0.140 for the period, compared to the consensus earnings per share estimate of 0.140. The company issued revenue guidance of $162.0 million-$167.0 million, compared to the consensus revenue estimate of $163.0 million. Varonis Systems also updated its FY 2024 guidance to 0.260-0.270 EPS.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded up $1.41 during trading on Friday, reaching $51.78. The company’s stock had a trading volume of 2,207,809 shares, compared to its average volume of 1,336,529. Varonis Systems has a one year low of $32.26 and a one year high of $60.58. The stock has a market capitalization of $5.81 billion, a P/E ratio of -67.04 and a beta of 0.82. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $55.98 and a two-hundred day moving average price of $49.99.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 17.22% and a negative net margin of 15.31%. The firm had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the previous year, the business posted ($0.35) EPS. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Varonis Systems will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRNS has been the subject of a number of analyst reports. Barclays boosted their price objective on shares of Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird lifted their target price on Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Piper Sandler raised their price objective on Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. increased their price target on Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Finally, TD Cowen raised their price target on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a research note on Tuesday, July 30th. Six analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $58.75.

Insider Activity

In related news, Vice Chairman James O’boyle sold 50,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the sale, the insider now directly owns 444,114 shares in the company, valued at $26,540,252.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.60% of the stock is currently owned by 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.