Varonis Systems (NASDAQ:VRNS) Updates Q4 Earnings Guidance

by · The Markets Daily

Varonis Systems (NASDAQ:VRNS – Get Free Report) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.13-0.14 for the period, compared to the consensus earnings per share estimate of $0.14. The company issued revenue guidance of $162-167 million, compared to the consensus revenue estimate of $163.04 million.

Analyst Ratings Changes

Several research firms recently weighed in on VRNS. Truist Financial reaffirmed a “buy” rating and set a $60.00 price objective (up previously from $55.00) on shares of Varonis Systems in a research report on Tuesday, July 30th. TD Cowen upped their price objective on shares of Varonis Systems from $54.00 to $65.00 and gave the stock a “buy” rating in a research report on Tuesday, July 30th. Piper Sandler boosted their target price on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 30th. Royal Bank of Canada boosted their target price on Varonis Systems from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Finally, Susquehanna boosted their target price on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Six research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $58.31.

Read Our Latest Stock Report on Varonis Systems

Varonis Systems Trading Up 2.4 %

VRNS stock traded up $1.40 during trading on Tuesday, hitting $58.78. The company had a trading volume of 2,761,198 shares, compared to its average volume of 1,302,888. The business has a 50-day moving average of $56.14 and a 200-day moving average of $49.87. Varonis Systems has a one year low of $31.03 and a one year high of $60.58. The stock has a market cap of $6.55 billion, a PE ratio of -62.20 and a beta of 0.82. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55.

Varonis Systems (NASDAQ:VRNS – Get Free Report) last announced 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. Varonis Systems had a negative return on equity of 18.31% and a negative net margin of 16.97%. The business had revenue of $130.35 million for the quarter, compared to analysts’ expectations of $124.83 million. During the same period in the prior year, the business posted ($0.35) earnings per share. The firm’s revenue was up 12.9% on a year-over-year basis. Research analysts predict that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 75,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $51.04, for a total transaction of $3,828,000.00. Following the transaction, the insider now directly owns 494,114 shares in the company, valued at approximately $25,219,578.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

About Varonis Systems

(Get Free Report)

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.

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