FY2024 EPS Estimates for Varonis Systems Boosted by Analyst

Varonis Systems, Inc. (NASDAQ:VRNS) – Stock analysts at DA Davidson increased their FY2024 earnings per share estimates for shares of Varonis Systems in a report issued on Wednesday, October 30th. DA Davidson analyst R. Kessinger now anticipates that the technology company will post earnings per share of ($0.80) for the year, up from their prior estimate of ($0.83). The consensus estimate for Varonis Systems’ current full-year earnings is ($0.83) per share. DA Davidson also issued estimates for Varonis Systems’ FY2025 earnings at ($0.74) EPS.

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, topping analysts’ consensus estimates of ($0.02) by $0.07. The business had revenue of $130.35 million for the quarter, compared to analyst estimates of $124.83 million. Varonis Systems had a negative return on equity of 17.22% and a negative net margin of 15.31%. The business’s revenue was up 12.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.35) earnings per share.

Several other research analysts also recently commented on the company. Susquehanna raised their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Barclays lifted their price objective on Varonis Systems from $60.00 to $65.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday. Baird R W upgraded shares of Varonis Systems from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 30th. Finally, Wedbush reiterated an “outperform” rating and set a $67.00 price objective on shares of Varonis Systems in a research note on Monday, August 26th. Six research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $58.75.

Varonis Systems Price Performance

Shares of NASDAQ:VRNS opened at $50.37 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The firm’s 50 day simple moving average is $55.98 and its 200-day simple moving average is $49.99. Varonis Systems has a one year low of $31.56 and a one year high of $60.58.

Institutional Investors Weigh In On Varonis Systems

Large investors have recently made changes to their positions in the stock. Inspire Advisors LLC purchased a new position in Varonis Systems in the 1st quarter worth $716,000. Seven Eight Capital LP purchased a new position in shares of Varonis Systems in the first quarter worth about $706,000. Diversified Trust Co acquired a new stake in shares of Varonis Systems during the second quarter worth about $575,000. Swedbank AB purchased a new stake in Varonis Systems in the first quarter valued at approximately $3,344,000. Finally, Harbor Capital Advisors Inc. boosted its position in Varonis Systems by 562.0% in the second quarter. Harbor Capital Advisors Inc. now owns 19,337 shares of the technology company’s stock valued at $928,000 after buying an additional 16,416 shares during the last quarter. 95.65% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Vice Chairman James O’boyle sold 50,000 shares of the company’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 $26,540,252.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available 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.