Varonis Systems (NASDAQ:VRNS) Updates Q2 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its second quarter earnings guidance on Monday morning. The company provided EPS guidance of $(0.03)-(0.02) for the period, compared to the consensus EPS estimate of ($0.01). The company issued revenue guidance of $123-126 million, compared to the consensus revenue estimate of $125.35 million. Varonis Systems also updated its FY24 guidance to $0.13-0.16 EPS.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on VRNS shares. Wells Fargo & Company upped their target price on Varonis Systems from $42.00 to $45.00 and gave the company an equal weight rating in a research note on Tuesday, February 6th. JPMorgan Chase & Co. increased their price objective on Varonis Systems from $49.00 to $50.00 and gave the company a neutral rating in a research note on Tuesday, February 6th. JMP Securities reissued a market outperform rating and issued a $63.00 target price on shares of Varonis Systems in a research note on Monday, February 5th. Stephens restated an overweight rating and issued a $55.00 target price on shares of Varonis Systems in a report on Tuesday, February 6th. Finally, Wedbush upgraded shares of Varonis Systems from a neutral rating to an outperform rating and lifted their price target for the stock from $35.00 to $65.00 in a report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $49.06.

Varonis Systems Stock Down 1.1 %

NASDAQ VRNS traded down $0.51 on Thursday, reaching $45.13. The company had a trading volume of 236,543 shares, compared to its average volume of 1,181,226. The firm has a market capitalization of $5.04 billion, a PE ratio of -48.55 and a beta of 0.84. The firm has a 50-day moving average of $46.75 and a 200-day moving average of $44.33. Varonis Systems has a 1 year low of $23.09 and a 1 year 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) last released its quarterly earnings results on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.08. Varonis Systems had a negative net margin of 20.22% and a negative return on equity of 20.04%. The business had revenue of $154.10 million during the quarter, compared to analyst estimates of $151.64 million. On average, equities research analysts anticipate that Varonis Systems will post -0.96 EPS for the current fiscal year.

Insider Buying and Selling at Varonis Systems

In other news, Director Gili Iohan sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the completion of the transaction, the director now directly owns 19,263 shares in the company, valued at approximately $973,552.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the sale, the director now directly owns 75,682 shares in the company, valued at approximately $3,945,302.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gili Iohan sold 19,500 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total transaction of $985,530.00. Following the sale, the director now directly owns 19,263 shares in the company, valued at $973,552.02. The disclosure for this sale can be found here. 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.