William Blair Weighs in on Varonis Systems, Inc.’s Q2 2022 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) – Research analysts at William Blair decreased their Q2 2022 EPS estimates for shares of Varonis Systems in a research report issued on Tuesday, May 3rd. William Blair analyst J. Ader now expects that the technology company will post earnings per share of ($0.26) for the quarter, down from their previous estimate of ($0.25). William Blair also issued estimates for Varonis Systems’ Q3 2022 earnings at ($0.20) EPS, Q4 2022 earnings at ($0.09) EPS, FY2022 earnings at ($0.91) EPS, Q2 2023 earnings at ($0.25) EPS, Q3 2023 earnings at ($0.19) EPS, Q4 2023 earnings at ($0.08) EPS and FY2023 earnings at ($0.79) EPS.

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

Other equities research analysts have also issued reports about the stock. UBS Group reduced their target price on shares of Varonis Systems from $74.00 to $55.00 and set a “buy” rating on the stock in a report on Tuesday, February 8th. Citigroup began coverage on shares of Varonis Systems in a research report on Monday, January 24th. They issued a “buy” rating and a $47.00 price objective on the stock. Barclays dropped their price objective on shares of Varonis Systems from $51.00 to $46.00 in a research report on Tuesday. StockNews.com began coverage on shares of Varonis Systems in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Finally, Wedbush dropped their price objective on shares of Varonis Systems from $60.00 to $52.00 and set an “outperform” rating on the stock in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $61.08.

Shares of VRNS stock opened at $37.20 on Friday. The firm’s 50 day moving average price is $44.53 and its 200-day moving average price is $47.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 4.53 and a current ratio of 4.53. Varonis Systems has a one year low of $32.11 and a one year high of $73.46.

Institutional investors and hedge funds have recently made changes to their positions in the business. Byrne Asset Management LLC acquired a new position in Varonis Systems during the first quarter worth about $25,000. Evoke Wealth LLC acquired a new position in Varonis Systems during the fourth quarter worth about $30,000. Captrust Financial Advisors raised its position in Varonis Systems by 110.5% during the third quarter. Captrust Financial Advisors now owns 884 shares of the technology company’s stock worth $54,000 after acquiring an additional 464 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Varonis Systems by 140.5% in the first quarter. Parallel Advisors LLC now owns 885 shares of the technology company’s stock valued at $42,000 after buying an additional 517 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in shares of Varonis Systems in the fourth quarter valued at approximately $81,000. Institutional investors own 93.20% of the company’s stock.

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

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.

Further Reading

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

Receive News & Ratings for Varonis Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Varonis Systems and related companies with MarketBeat.com's FREE daily email newsletter.