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 guidance of 0.130-0.140 for the period, compared to the consensus earnings per share 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 Stock Up 2.4 %

Shares of VRNS traded up $1.40 during midday trading on Tuesday, reaching $58.78. The stock had a trading volume of 2,761,376 shares, compared to its average volume of 1,302,888. The company has a market cap 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 two-hundred day simple moving average is $49.87. Varonis Systems has a 1-year low of $31.03 and a 1-year high of $60.58. 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 released its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.07. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The business had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the prior year, the firm posted ($0.35) EPS. The business’s quarterly revenue was up 12.9% compared to the same quarter last year. Equities research analysts expect that Varonis Systems will post -0.83 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Robert W. Baird increased their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. JPMorgan Chase & Co. boosted their price target on shares of Varonis Systems from $59.00 to $65.00 and gave the company an “overweight” rating in a research report on Monday. Wells Fargo & Company raised their price objective on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 30th. Finally, TD Cowen boosted their target price on Varonis Systems from $54.00 to $65.00 and gave the company a “buy” rating in a report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.31.

Insider Activity

In related news, Vice Chairman James O’boyle sold 75,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $51.04, for a total value of $3,828,000.00. Following the completion of the sale, the insider now owns 494,114 shares in the company, valued at $25,219,578.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

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.