Varonis Systems (NASDAQ:VRNS) Releases 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 (EPS) guidance of 0.130-0.140 for the period, compared to the consensus 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.

Wall Street Analyst Weigh In

Several research firms have commented on VRNS. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Wedbush reaffirmed an “outperform” rating and issued a $67.00 price objective on shares of Varonis Systems in a research report on Monday, August 26th. UBS Group lifted their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Susquehanna upped their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Finally, Truist Financial reaffirmed a “buy” rating and set a $60.00 target price (up from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Six equities 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. According to MarketBeat.com, Varonis Systems presently has a consensus rating of “Moderate Buy” and an average target price of $58.75.

Varonis Systems Trading Down 10.7 %

VRNS traded down $6.30 on Wednesday, hitting $52.48. 5,712,554 shares of the company were exchanged, compared to its average volume of 1,323,892. The stock has a market capitalization of $5.85 billion, a PE ratio of -56.02 and a beta of 0.82. The firm has a fifty day simple moving average of $56.19 and a two-hundred day simple moving average of $49.97. 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 12 month low of $31.56 and a 12 month high of $60.58.

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

Insider Buying and Selling

In related news, Vice Chairman James O’boyle sold 75,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the transaction, the insider now owns 494,114 shares of the company’s stock, valued at approximately $25,219,578.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by company 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.