Varonis Systems (NASDAQ:VRNS) Issues Q2 Earnings Guidance

Varonis Systems (NASDAQ:VRNS) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share guidance of $(0.03)-(0.02) for the period, compared to the consensus earnings per share 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.

Varonis Systems Price Performance

Shares of VRNS stock traded up $0.64 during trading hours on Wednesday, hitting $45.64. The stock had a trading volume of 1,489,563 shares, compared to its average volume of 1,192,144. The stock’s 50-day moving average price is $46.75 and its two-hundred day moving average price is $44.33. Varonis Systems has a one year low of $23.09 and a one year high of $52.88. The stock has a market capitalization of $5.09 billion, a price-to-earnings ratio of -49.61 and a beta of 0.84. 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 issued its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.08. Varonis Systems had a negative return on equity of 20.04% and a negative net margin of 20.22%. The business had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $151.64 million. Equities analysts forecast that Varonis Systems will post -0.96 EPS for the current year.

Analyst Ratings Changes

VRNS has been the subject of a number of recent research reports. Wedbush raised shares of Varonis Systems from a neutral rating to an outperform rating and lifted their price objective for the stock from $35.00 to $65.00 in a research note on Tuesday, February 6th. Stephens reissued an overweight rating and set a $55.00 price objective on shares of Varonis Systems in a research note on Tuesday, February 6th. Wells Fargo & Company raised their price objective 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. Robert W. Baird boosted their target price on Varonis Systems from $48.00 to $50.00 and gave the company a neutral rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. raised their price target on Varonis Systems from $49.00 to $50.00 and gave the stock a neutral rating in a research 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.com, the company currently has an average rating of Moderate Buy and a consensus price target of $49.06.

Insider Buying and Selling at Varonis Systems

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the company’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $52.13, for a total transaction of $260,650.00. Following the completion of the sale, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of Varonis Systems stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the transaction, the director now owns 75,682 shares in the company, valued at $3,945,302.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gili Iohan sold 19,500 shares of the stock in a transaction dated Thursday, February 29th. The shares were 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 of the company’s stock, valued at $973,552.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 372,419 shares of company stock valued at $18,571,413. Company 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.