FY2024 EPS Estimates for Varonis Systems Boosted by Analyst

Varonis Systems, Inc. (NASDAQ:VRNS) – Research analysts at DA Davidson raised their FY2024 earnings per share (EPS) estimates for Varonis Systems in a research report issued on Wednesday, October 30th. DA Davidson analyst R. Kessinger now anticipates that the technology company will earn ($0.80) per share for the year, up from their prior forecast of ($0.83). The consensus estimate for Varonis Systems’ current full-year earnings is ($0.83) per share. DA Davidson also issued estimates for Varonis Systems’ FY2025 earnings at ($0.74) EPS.

VRNS has been the subject of several other reports. Wells Fargo & Company upped their target price on Varonis Systems from $45.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 30th. Barclays increased their target price on shares of Varonis Systems from $60.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird boosted their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Finally, Wedbush reissued an “outperform” rating and set a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Six investment 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 stock. According to data from MarketBeat.com, Varonis Systems currently has an average rating of “Moderate Buy” and a consensus target price of $58.75.

Varonis Systems Price Performance

VRNS stock opened at $51.23 on Friday. The company has a market capitalization of $5.75 billion, a P/E ratio of -68.31 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 $32.26 and a 52-week high of $60.58. The business has a 50-day simple moving average of $55.86 and a two-hundred day simple moving average of $50.05.

Insider Transactions at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the business’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 completion of the sale, the insider now owns 444,114 shares in the company, valued at $26,540,252.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its position in Varonis Systems by 445.3% in the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock valued at $29,000 after purchasing an additional 423 shares during the last quarter. Fidelis Capital Partners LLC bought a new stake in shares of Varonis Systems during the first quarter valued at approximately $63,000. International Assets Investment Management LLC raised its stake in shares of Varonis Systems by 5,550.0% in the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Varonis Systems during the 2nd quarter valued at about $215,000. Finally, O Neil Global Advisors Inc. raised its stake in Varonis Systems by 4.8% during the 2nd quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock valued at $229,000 after buying an additional 220 shares during the last quarter. 95.65% of the stock is owned by institutional investors.

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.