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 EPS guidance of 0.130-0.140 for the period, compared to the consensus EPS 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 2.4 %

NASDAQ:VRNS traded up $1.21 on Friday, reaching $51.58. The stock had a trading volume of 2,086,677 shares, compared to its average volume of 1,335,958. Varonis Systems has a 12-month low of $32.26 and a 12-month high of $60.58. The company has a market cap of $5.79 billion, a price-to-earnings ratio of -67.04 and a beta of 0.82. The firm’s fifty day moving average is $55.98 and its two-hundred day moving average is $49.99. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.44.

Varonis Systems (NASDAQ:VRNS) last announced its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.07. The business had revenue of $130.35 million for the quarter, compared to the consensus estimate of $124.83 million. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.22%. The company’s quarterly revenue was up 12.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. Equities analysts expect that Varonis Systems will post -0.83 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRNS has been the topic of several analyst reports. Wedbush restated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a report on Monday, August 26th. Royal Bank of Canada reissued an “outperform” rating and issued a $65.00 price target on shares of Varonis Systems in a research note on Wednesday. Piper Sandler upped their price objective on shares of Varonis Systems from $48.00 to $55.00 and gave the company a “neutral” rating in a research note on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Truist Financial restated a “buy” rating and issued 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, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $58.75.

Insiders Place Their Bets

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