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

Varonis Systems (NASDAQ:VRNS) updated its second quarter 2024 earnings guidance on Monday. The company provided earnings per share (EPS) guidance of -0.030–0.020 for the period, compared to the consensus 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 subject of a number of recent research reports. Royal Bank of Canada lifted their price target on shares of Varonis Systems from $56.00 to $58.00 and gave the stock an outperform rating in a research note on Tuesday. DA Davidson restated a neutral rating and issued a $45.00 price target (up from $37.00) on shares of Varonis Systems in a research note on Thursday, January 18th. Wedbush raised Varonis Systems from a neutral rating to an outperform rating and upped their price objective for the stock from $35.00 to $65.00 in a research report on Tuesday, February 6th. Stephens reiterated an overweight rating and issued a $55.00 price objective on shares of Varonis Systems in a report on Tuesday, February 6th. Finally, JPMorgan Chase & Co. boosted their target price on Varonis Systems from $49.00 to $50.00 and gave the stock a neutral rating in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of Moderate Buy and an average target price of $49.06.

Varonis Systems Price Performance

Shares of VRNS opened at $45.64 on Thursday. The company has a market capitalization of $5.09 billion, a price-to-earnings ratio of -48.55 and a beta of 0.84. Varonis Systems has a fifty-two week low of $23.09 and a fifty-two week high of $52.88. The firm has a 50-day simple moving average of $46.75 and a 200-day simple moving average of $44.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The company had revenue of $154.10 million during the quarter, compared to analysts’ expectations of $151.64 million. On average, equities research analysts anticipate that Varonis Systems will post -0.96 earnings per share for the current year.

Insider Activity at Varonis Systems

In other news, Director Gili Iohan sold 19,500 shares of the firm’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 value of $985,530.00. Following the completion of the sale, the director now directly 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 this link. In other Varonis Systems news, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $50.54, for a total transaction of $985,530.00. Following the transaction, the director now directly owns 19,263 shares in the company, valued at $973,552.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ofer Segev sold 5,000 shares of Varonis Systems stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $52.13, for a total transaction of $260,650.00. Following the sale, the director now owns 75,682 shares of the company’s stock, valued at $3,945,302.66. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Varonis Systems Company Profile

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.