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

Varonis Systems (NASDAQ:VRNS - Get Free Report) updated its second quarter 2024 earnings guidance on Monday. The company provided EPS guidance of -0.030--0.020 for the period, compared to the consensus EPS 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on VRNS. Robert W. Baird raised their price target on shares of Varonis Systems from $45.00 to $48.00 and gave the company a neutral rating in a report on Tuesday, February 6th. Citigroup raised their price target on shares of Varonis Systems from $35.00 to $45.00 and gave the company a neutral rating in a report on Wednesday, January 10th. Piper Sandler raised their price target on shares of Varonis Systems from $40.00 to $45.00 and gave the company a neutral rating in a report on Tuesday, February 6th. JPMorgan Chase & Co. raised their price target on shares of Varonis Systems from $49.00 to $50.00 and gave the company a neutral rating in a report on Tuesday, February 6th. Finally, Wells Fargo & Company raised their price target on shares of Varonis Systems from $42.00 to $45.00 and gave the company an equal weight rating in a report on Tuesday, February 6th. Seven investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Varonis Systems presently has an average rating of Moderate Buy and an average price target of $48.81.

Varonis Systems Trading Up 1.9 %

Shares of NASDAQ VRNS traded up $0.82 during midday trading on Monday, reaching $44.59. 2,098,010 shares of the stock were exchanged, compared to its average volume of 1,171,959. The business has a 50-day simple moving average of $46.97 and a two-hundred day simple moving average of $44.23. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -48.47 and a beta of 0.84. Varonis Systems has a 12 month low of $22.87 and a 12 month high of $52.88. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.50 and a quick ratio of 2.50.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last announced its quarterly earnings results 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. The company had revenue of $154.10 million for the quarter, compared to analysts' expectations of $151.64 million. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. As a group, equities research analysts expect that Varonis Systems will post -0.96 EPS for the current year.

Insider Transactions at Varonis Systems

In related news, VP Dov Gottlieb sold 43,091 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total value of $2,069,229.82. Following the sale, the vice president now directly owns 227,654 shares of the company's stock, valued at approximately $10,931,945.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Guy Melamed sold 188,503 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $49.88, for a total value of $9,402,529.64. Following the sale, the chief financial officer now directly owns 645,876 shares of the company's stock, valued at approximately $32,216,294.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Dov Gottlieb sold 43,091 shares of the business's stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,069,229.82. Following the completion of the sale, the vice president now directly owns 227,654 shares in the company, valued at $10,931,945.08. The disclosure for this sale can be found here. Insiders have sold a total of 372,419 shares of company stock valued at $18,571,413 over the last three months. 2.60% of the stock is currently owned by corporate 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.