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.

Varonis Systems Trading Up 2.4 %

Shares of VRNS stock traded up $1.40 on Tuesday, hitting $58.78. 2,761,376 shares of the company’s stock traded hands, compared to its average volume of 1,302,888. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of -62.20 and a beta of 0.82. The company’s fifty day simple moving average is $56.14 and its 200 day simple moving average is $49.87. Varonis Systems has a one year low of $31.03 and a one year high of $60.58. 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 (NASDAQ:VRNS) last released its earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. Varonis Systems’s revenue for the quarter was up 12.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS. Equities analysts forecast that Varonis Systems will post -0.83 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wedbush restated an “outperform” rating and issued a $67.00 target price on shares of Varonis Systems in a report on Monday, August 26th. Truist Financial reissued a “buy” rating and issued a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Piper Sandler upped their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the company a “neutral” rating in a research note on Tuesday, July 30th. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a report on Tuesday, July 30th. Finally, Susquehanna upped their price target on Varonis Systems from $55.00 to $65.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Varonis Systems currently has a consensus rating of “Moderate Buy” and an average target price of $58.31.

Insider Activity

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of Varonis Systems stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total value of $2,988,000.00. Following the completion of the sale, the insider now owns 444,114 shares of the company’s stock, 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 is accessible through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

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.