Varonis Systems (NASDAQ:VRNS) Releases Q4 2024 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) updated its fourth quarter 2024 earnings guidance on Tuesday. 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.

Varonis Systems Trading Up 2.8 %

VRNS stock traded up $1.41 during mid-day trading on Friday, reaching $51.78. 2,207,809 shares of the stock traded hands, compared to its average volume of 1,336,529. The stock’s fifty day moving average is $55.98 and its 200-day moving average is $49.99. The company has a market cap of $5.81 billion, a P/E ratio of -67.04 and a beta of 0.82. Varonis Systems has a 52-week low of $32.26 and a 52-week high of $60.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS) last posted 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 return on equity of 17.22% and a negative net margin of 15.31%. The firm had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. During the same period in the previous year, the firm earned ($0.35) earnings per share. Varonis Systems’s quarterly revenue was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on VRNS shares. Wedbush reiterated an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Wells Fargo & Company upped their target price on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. TD Cowen lifted their price target on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. increased their price objective on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a report on Monday. Finally, UBS Group lifted their target price on shares of Varonis Systems from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Six equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.75.

Insider Transactions at Varonis Systems

In other news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by corporate 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.