Equities Analysts Offer Predictions for Varonis Systems, Inc.’s Q3 2024 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNS) – Equities research analysts at Wedbush raised their Q3 2024 EPS estimates for shares of Varonis Systems in a note issued to investors on Tuesday, July 30th. Wedbush analyst D. Ives now forecasts that the technology company will post earnings of ($0.21) per share for the quarter, up from their previous estimate of ($0.26). Wedbush currently has a “Outperform” rating and a $67.00 target price on the stock. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.83) per share. Wedbush also issued estimates for Varonis Systems’ Q4 2024 earnings at ($0.18) EPS, FY2024 earnings at ($0.84) EPS, Q1 2025 earnings at ($0.34) EPS, Q2 2025 earnings at ($0.21) EPS, Q3 2025 earnings at ($0.13) EPS, Q4 2025 earnings at ($0.03) EPS and FY2025 earnings at ($0.74) EPS.

Varonis Systems (NASDAQ:VRNS) last issued its earnings results on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.07. The company had revenue of $130.35 million during the quarter, compared to analysts’ expectations of $124.83 million. Varonis Systems had a negative net margin of 16.97% and a negative return on equity of 18.31%. The business’s revenue for the quarter was up 12.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) EPS.

Other equities analysts have also recently issued reports about the stock. Robert W. Baird upgraded shares of Varonis Systems from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $52.00 to $60.00 in a research report on Tuesday, July 30th. Wells Fargo & Company upped their price objective on shares of Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 30th. Needham & Company LLC reiterated a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Royal Bank of Canada upped their price objective on shares of Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Finally, Barclays upped their price target on shares of Varonis Systems from $55.00 to $60.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Six investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $56.33.

Varonis Systems Price Performance

VRNS stock opened at $51.80 on Friday. The company has a 50 day simple moving average of $46.22 and a 200 day simple moving average of $46.55. The stock has a market cap of $5.81 billion, a price-to-earnings ratio of -55.11 and a beta of 0.82. Varonis Systems has a 1 year low of $29.10 and a 1 year high of $57.00. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.44 and a quick ratio of 2.38.

Insider Buying and Selling

In related news, CEO Yakov Faitelson sold 284,211 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the transaction, the chief executive officer now directly owns 1,452,922 shares of the company’s stock, valued at $65,715,662.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. International Assets Investment Management LLC raised its holdings in shares of Varonis Systems by 1,779.2% in the fourth quarter. International Assets Investment Management LLC now owns 1,992 shares of the technology company’s stock valued at $90,000 after purchasing an additional 1,886 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Varonis Systems by 53.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 288,828 shares of the technology company’s stock valued at $13,078,000 after purchasing an additional 100,324 shares during the last quarter. Cerity Partners LLC purchased a new stake in shares of Varonis Systems in the fourth quarter valued at about $219,000. Strs Ohio raised its holdings in shares of Varonis Systems by 61.4% in the fourth quarter. Strs Ohio now owns 11,300 shares of the technology company’s stock valued at $511,000 after purchasing an additional 4,300 shares during the last quarter. Finally, Xponance Inc. purchased a new stake in shares of Varonis Systems in the fourth quarter valued at about $300,000. 95.65% of the stock is owned by 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.