Varonis Systems, Inc. (NASDAQ:VRNS) Forecasted to Earn Q2 2022 Earnings of ($0.27) Per Share

Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) – Research analysts at Wedbush lowered their Q2 2022 earnings estimates for shares of Varonis Systems in a report released on Tuesday, May 3rd. Wedbush analyst D. Ives now forecasts that the technology company will post earnings per share of ($0.27) for the quarter, down from their prior estimate of ($0.26). Wedbush currently has a “Outperform” rating and a $52.00 target price on the stock. Wedbush also issued estimates for Varonis Systems’ Q3 2022 earnings at ($0.18) EPS, Q4 2022 earnings at ($0.12) EPS, FY2022 earnings at ($0.90) EPS, Q1 2023 earnings at ($0.34) EPS, Q3 2023 earnings at ($0.16) EPS, Q4 2023 earnings at ($0.08) EPS and FY2023 earnings at ($0.70) EPS.

Varonis Systems (NASDAQ:VRNSGet Rating) last released its quarterly earnings data on Monday, May 2nd. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.24. Varonis Systems had a negative return on equity of 19.58% and a negative net margin of 31.58%. During the same quarter in the prior year, the business earned ($0.34) earnings per share.

VRNS has been the subject of several other research reports. Summit Insights reiterated a “buy” rating on shares of Varonis Systems in a report on Monday. UBS Group decreased their price target on Varonis Systems from $74.00 to $55.00 and set a “buy” rating for the company in a report on Tuesday, February 8th. Zacks Investment Research downgraded Varonis Systems from a “hold” rating to a “sell” rating in a report on Tuesday, April 12th. Royal Bank of Canada decreased their price target on Varonis Systems from $65.00 to $55.00 in a report on Monday, February 7th. Finally, TheStreet downgraded Varonis Systems from a “c-” rating to a “d+” rating in a report on Monday, February 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, Varonis Systems currently has an average rating of “Buy” and a consensus price target of $61.08.

Shares of Varonis Systems stock opened at $37.20 on Friday. The stock has a fifty day simple moving average of $44.53 and a 200 day simple moving average of $47.34. Varonis Systems has a 12-month low of $32.11 and a 12-month high of $73.46. The company has a current ratio of 4.53, a quick ratio of 4.53 and a debt-to-equity ratio of 0.38.

In other news, Director Den Bosch Fred Van sold 1,000 shares of the company’s stock in a transaction on Tuesday, April 19th. The stock was sold at an average price of $50.00, for a total transaction of $50,000.00. Following the transaction, the director now owns 115,945 shares of the company’s stock, valued at approximately $5,797,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ofer Segev sold 1,500 shares of the stock in a transaction dated Thursday, April 7th. The stock was sold at an average price of $45.38, for a total value of $68,070.00. Following the sale, the director now directly owns 71,802 shares in the company, valued at approximately $3,258,374.76. The disclosure for this sale can be found here. Insiders have sold a total of 5,500 shares of company stock worth $268,070 in the last ninety days. Insiders own 1.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Byrne Asset Management LLC purchased a new stake in Varonis Systems during the 1st quarter worth about $25,000. Evoke Wealth LLC purchased a new stake in Varonis Systems during the 4th quarter worth about $30,000. Parallel Advisors LLC lifted its holdings in Varonis Systems by 140.5% during the 1st quarter. Parallel Advisors LLC now owns 885 shares of the technology company’s stock worth $42,000 after purchasing an additional 517 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Varonis Systems by 110.5% during the 3rd quarter. Captrust Financial Advisors now owns 884 shares of the technology company’s stock worth $54,000 after purchasing an additional 464 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in Varonis Systems during the 4th quarter worth about $81,000. 93.20% of the stock is currently owned by institutional investors and hedge funds.

Varonis Systems Company Profile (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.

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

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