FY2024 EPS Estimates for Varonis Systems Boosted by Analyst

Varonis Systems, Inc. (NASDAQ:VRNS - Free Report) - Research analysts at DA Davidson increased their FY2024 earnings per share estimates for shares of Varonis Systems in a research report issued on Wednesday, October 30th. DA Davidson analyst R. Kessinger now anticipates that the technology company will post earnings per share of ($0.80) for the year, up from their prior estimate of ($0.83). The consensus estimate for Varonis Systems' current full-year earnings is ($0.83) per share. DA Davidson also issued estimates for Varonis Systems' FY2025 earnings at ($0.74) EPS.

A number of other research analysts have also recently commented on the company. Wells Fargo & Company upped their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 30th. Susquehanna boosted their price objective on Varonis Systems from $55.00 to $65.00 and gave the company a "positive" rating in a report on Tuesday, July 30th. Royal Bank of Canada restated an "outperform" rating and set a $65.00 target price on shares of Varonis Systems in a report on Wednesday. TD Cowen boosted their price target on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a "buy" rating in a research note on Tuesday, July 30th. Finally, UBS Group raised their price objective on shares of Varonis Systems from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Six analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $58.75.

Varonis Systems Trading Up 3.1 %

Shares of Varonis Systems stock traded up $1.55 on Friday, reaching $51.92. The company had a trading volume of 2,518,647 shares, compared to its average volume of 1,337,995. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.44 and a current ratio of 2.44. The firm has a market cap of $5.82 billion, a PE ratio of -67.04 and a beta of 0.82. The firm's 50 day moving average price is $55.98 and its two-hundred day moving average price is $49.99. Varonis Systems has a 52-week low of $32.26 and a 52-week high of $60.58.

Varonis Systems (NASDAQ:VRNS - Get Free Report) last posted its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of ($0.02) by $0.07. Varonis Systems had a negative net margin of 15.31% and a negative return on equity of 17.22%. The company had revenue of $130.35 million for the quarter, compared to analysts' expectations of $124.83 million. During the same quarter in the prior year, the company posted ($0.35) earnings per share. Varonis Systems's revenue for the quarter was up 12.9% compared to the same quarter last year.

Insider Buying and Selling at Varonis Systems

In other news, Vice Chairman James O'boyle sold 50,000 shares of the company's stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the transaction, the insider now directly owns 444,114 shares of the company's stock, valued at approximately $26,540,252.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Varonis Systems

Several hedge funds have recently made changes to their positions in the company. Hood River Capital Management LLC boosted its position in shares of Varonis Systems by 40.8% in the 1st quarter. Hood River Capital Management LLC now owns 1,611,871 shares of the technology company's stock valued at $76,032,000 after purchasing an additional 466,688 shares during the period. Nationale Nederlanden Powszechne Towarzystwo Emerytalne S.A. acquired a new stake in shares of Varonis Systems in the first quarter valued at approximately $19,194,000. Squarepoint Ops LLC grew its position in shares of Varonis Systems by 167.9% during the second quarter. Squarepoint Ops LLC now owns 453,503 shares of the technology company's stock worth $21,755,000 after acquiring an additional 284,236 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Varonis Systems by 40.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 799,685 shares of the technology company's stock valued at $38,361,000 after acquiring an additional 228,589 shares during the period. Finally, Vanguard Group Inc. raised its position in Varonis Systems by 1.4% in the 1st quarter. Vanguard Group Inc. now owns 11,256,692 shares of the technology company's stock valued at $530,978,000 after purchasing an additional 155,040 shares during the last quarter. Hedge funds and other institutional investors own 95.65% 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.