Equities Analysts Offer Predictions for Varonis Systems, Inc.’s Q3 2024 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNS) – Investment analysts at Wedbush increased their Q3 2024 earnings per share (EPS) estimates for shares of Varonis Systems in a note issued to investors on Tuesday, July 30th. Wedbush analyst D. Ives now expects that the technology company will earn ($0.21) per share for the quarter, up from their prior forecast of ($0.26). Wedbush has a “Outperform” rating and a $67.00 price target on the stock. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.83) per share. Wedbush also issued estimates for Varonis Systems’ Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.34) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.74) EPS.

Varonis Systems (NASDAQ:VRNS) last issued its quarterly earnings results on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $0.07. The firm 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%. The firm’s quarterly revenue was up 12.9% on a year-over-year basis. During the same period last year, the company posted ($0.35) EPS.

VRNS has been the subject of a number of other reports. Robert W. Baird raised Varonis Systems from a “neutral” rating to an “outperform” rating and increased their price target for the company from $52.00 to $60.00 in a research note on Tuesday, July 30th. Baird R W raised Varonis Systems from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. Barclays raised their price objective on Varonis Systems from $55.00 to $60.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, Susquehanna raised their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Varonis Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.33.

Varonis Systems Stock Performance

Shares of NASDAQ VRNS opened at $51.80 on Friday. The stock has a fifty day moving average price of $46.22 and a two-hundred day moving average price of $46.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.38 and a current ratio of 2.44. The firm has a market cap of $5.81 billion, a P/E ratio of -55.11 and a beta of 0.82. Varonis Systems has a 1 year low of $29.10 and a 1 year high of $57.00.

Insider Activity

In related news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the sale, the chief executive officer now directly owns 1,452,922 shares in the company, valued at $65,715,662.06. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Varonis Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its position in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock worth $42,000 after buying an additional 429 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Varonis Systems during the first quarter worth $63,000. NBC Securities Inc. acquired a new position in Varonis Systems during the first quarter worth $68,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Varonis Systems during the fourth quarter worth $77,000. Finally, International Assets Investment Management LLC increased its position in Varonis Systems by 1,779.2% during the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock worth $90,000 after buying an additional 1,886 shares during the last quarter. 95.65% of the stock is currently owned by hedge funds and other institutional investors.

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.