Analysts Offer Predictions for Varonis Systems, Inc.’s Q2 2024 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNS) – Equities research analysts at DA Davidson issued their Q2 2024 EPS estimates for Varonis Systems in a research note issued to investors on Tuesday, May 7th. DA Davidson analyst R. Kessinger forecasts that the technology company will post earnings of ($0.28) per share for the quarter. DA Davidson has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.96) per share. DA Davidson also issued estimates for Varonis Systems’ FY2024 earnings at ($0.92) EPS and FY2025 earnings at ($0.92) EPS.

VRNS has been the topic of a number of other reports. Royal Bank of Canada lifted their target price on shares of Varonis Systems from $56.00 to $58.00 and gave the stock an “outperform” rating in a research note on Tuesday. Truist Financial reiterated a “buy” rating and issued a $55.00 price objective (up from $50.00) on shares of Varonis Systems in a report on Wednesday, March 13th. Citigroup lifted their target price on Varonis Systems from $35.00 to $45.00 and gave the company a “neutral” rating in a research report on Wednesday, January 10th. Stephens reiterated an “overweight” rating and set a $55.00 price target on shares of Varonis Systems in a report on Tuesday, February 6th. Finally, Wells Fargo & Company boosted their price objective on shares of Varonis Systems from $42.00 to $45.00 and gave the company an “equal weight” rating in a report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $49.06.

Varonis Systems Stock Up 1.4 %

NASDAQ VRNS opened at $45.64 on Thursday. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.51. Varonis Systems has a 52 week low of $23.09 and a 52 week high of $52.88. The business’s fifty day simple moving average is $46.75 and its 200-day simple moving average is $44.33. The firm has a market cap of $5.09 billion, a PE ratio of -49.61 and a beta of 0.84.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, February 5th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $154.10 million for the quarter, compared to analyst estimates of $151.64 million.

Insider Activity

In related news, Director Gili Iohan sold 19,500 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $973,552.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Ofer Segev sold 5,000 shares of the 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 approximately $3,945,302.66. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gili Iohan sold 19,500 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $50.54, for a total value of $985,530.00. Following the sale, the director now owns 19,263 shares of the company’s stock, valued at approximately $973,552.02. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of VRNS. Fortis Capital Advisors LLC boosted its stake in Varonis Systems by 96.4% in the first quarter. Fortis Capital Advisors LLC now owns 20,455 shares of the technology company’s stock valued at $965,000 after acquiring an additional 10,042 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its holdings in shares of Varonis Systems by 12.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 34,958 shares of the technology company’s stock valued at $1,649,000 after purchasing an additional 3,920 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of Varonis Systems in the 1st quarter valued at about $368,000. ProShare Advisors LLC grew its stake in Varonis Systems by 8.1% during the 1st quarter. ProShare Advisors LLC now owns 19,910 shares of the technology company’s stock worth $939,000 after buying an additional 1,493 shares during the last quarter. Finally, Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new position in Varonis Systems during the first quarter worth approximately $19,194,000. 95.65% of the stock is owned by hedge funds and other institutional investors.

About Varonis Systems

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.