Varonis Systems (NASDAQ:VRNS) Releases Q2 Earnings Guidance

Varonis Systems (NASDAQ:VRNSGet Rating) issued an update on its second quarter earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of -(0.02-0.01) for the period, compared to the Thomson Reuters consensus estimate of ($0.01). The company issued revenue guidance of $110.5-112 million, compared to the consensus revenue estimate of $111.54 million.Varonis Systems also updated its FY22 guidance to $0.16-0.18 EPS.

Shares of Varonis Systems stock opened at $43.67 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 4.53 and a quick ratio of 4.53. Varonis Systems has a twelve month low of $32.11 and a twelve month high of $73.46. The company’s fifty day moving average is $44.62 and its 200 day moving average is $47.64.

Varonis Systems (NASDAQ:VRNSGet Rating) last released its earnings results on Monday, May 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.33) by $0.24. Varonis Systems had a negative net margin of 29.95% and a negative return on equity of 17.48%. During the same period last year, the business earned ($0.34) EPS. Analysts expect that Varonis Systems will post -0.76 EPS for the current year.

Several equities analysts recently issued reports on the stock. Wedbush dropped their target price on shares of Varonis Systems from $60.00 to $52.00 in a report on Tuesday. JMP Securities restated a buy rating and issued a $73.00 target price on shares of Varonis Systems in a report on Tuesday, February 8th. Citigroup started coverage on shares of Varonis Systems in a report on Monday, January 24th. They issued a buy rating and a $47.00 target price on the stock. StockNews.com started coverage on shares of Varonis Systems in a report on Thursday, March 31st. They set a hold rating on the stock. Finally, Piper Sandler upped their price objective on shares of Varonis Systems from $60.00 to $70.00 and gave the company an overweight rating in a report on Thursday, January 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of Buy and an average price target of $61.00.

In related news, Director Ofer Segev sold 1,500 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $45.38, for a total value of $68,070.00. Following the sale, the director now owns 71,802 shares in the company, valued at approximately $3,258,374.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Den Bosch Fred Van sold 1,000 shares of the company’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the completion of the sale, the director now owns 115,945 shares in the company, valued at approximately $5,797,250. The disclosure for this sale can be found here. Insiders sold a total of 5,500 shares of company stock worth $268,070 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of VRNS. Neo Ivy Capital Management bought a new stake in Varonis Systems in the 4th quarter worth about $81,000. Advisors Asset Management Inc. grew its position in Varonis Systems by 233.9% in the 4th quarter. Advisors Asset Management Inc. now owns 2,668 shares of the technology company’s stock worth $130,000 after purchasing an additional 1,869 shares in the last quarter. Stifel Financial Corp grew its position in Varonis Systems by 49.7% in the 4th quarter. Stifel Financial Corp now owns 6,129 shares of the technology company’s stock worth $299,000 after purchasing an additional 2,035 shares in the last quarter. Woodline Partners LP bought a new stake in Varonis Systems in the 4th quarter worth about $486,000. Finally, Glenmede Trust Co. NA grew its position in Varonis Systems by 3.5% in the 4th quarter. Glenmede Trust Co. NA now owns 11,394 shares of the technology company’s stock worth $555,000 after purchasing an additional 390 shares in the last quarter. Institutional investors own 93.20% of the company’s stock.

About Varonis Systems (Get Rating)

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; strategic and product plans; and other intellectual property.

Further Reading

Earnings History and Estimates for Varonis Systems (NASDAQ:VRNS)

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