Brokers Issue Forecasts for Varonis Systems Q4 Earnings

Varonis Systems, Inc. (NASDAQ:VRNS) – Equities researchers at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Varonis Systems in a report issued on Wednesday, October 30th. DA Davidson analyst R. Kessinger forecasts that the technology company will post earnings of ($0.15) per share for the quarter. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.83) per share.

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

A number of other research analysts have also weighed in on the stock. Truist Financial reissued a “buy” rating and issued a $60.00 target price (up from $55.00) on shares of Varonis Systems in a research note on Tuesday, July 30th. Wells Fargo & Company boosted their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Robert W. Baird lifted their price target on Varonis Systems from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Finally, TD Cowen upped their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $58.75.

Varonis Systems Stock Performance

VRNS opened at $50.37 on Thursday. Varonis Systems has a twelve month low of $31.56 and a twelve month high of $60.58. The firm has a market capitalization of $5.62 billion, a PE ratio of -53.59 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 firm’s 50-day moving average price is $56.10 and its 200 day moving average price is $49.99.

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the sale, the insider now directly owns 494,114 shares in the company, valued at $25,219,578.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Varonis Systems

Institutional investors have recently modified their holdings of the business. Inspire Advisors LLC acquired a new position in Varonis Systems during the 1st quarter worth $716,000. Seven Eight Capital LP acquired a new position in shares of Varonis Systems during the first quarter worth about $706,000. Diversified Trust Co acquired a new stake in Varonis Systems in the second quarter valued at approximately $575,000. Swedbank AB purchased a new position in Varonis Systems in the first quarter worth approximately $3,344,000. Finally, Harbor Capital Advisors Inc. grew its holdings in Varonis Systems by 562.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock worth $928,000 after acquiring an additional 16,416 shares in the last quarter. Institutional investors and hedge funds own 95.65% of the company’s stock.

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.