Equities Analysts Set Expectations for Varonis Systems, Inc.’s Q2 2024 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNS) – Investment analysts at DA Davidson issued their Q2 2024 earnings per share estimates for Varonis Systems in a research note issued on Tuesday, May 7th. DA Davidson analyst R. Kessinger expects that the technology company will earn ($0.28) per share for the quarter. DA Davidson has a “Neutral” rating and a $45.00 price objective 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.

A number of other research analysts have also recently issued reports on VRNS. Wedbush upgraded Varonis Systems from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $35.00 to $65.00 in a research note on Tuesday, February 6th. Robert W. Baird increased their price objective on shares of Varonis Systems from $48.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday. JMP Securities reissued a “market outperform” rating and issued a $63.00 target price on shares of Varonis Systems in a research report on Monday, February 5th. Royal Bank of Canada increased their price target on Varonis Systems from $56.00 to $58.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, JPMorgan Chase & Co. upped their price target on shares of Varonis Systems from $49.00 to $50.00 and gave the company a “neutral” rating in a research report on Tuesday, February 6th. Seven research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $49.06.

Varonis Systems Price Performance

VRNS stock opened at $45.64 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.50 and a current ratio of 2.50. The firm has a market capitalization of $5.09 billion, a price-to-earnings ratio of -49.61 and a beta of 0.84. The firm has a 50 day moving average price of $46.75 and a 200-day moving average price of $44.33. Varonis Systems has a 52-week low of $23.09 and a 52-week high of $52.88.

Varonis Systems (NASDAQ:VRNS) last announced 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 net margin of 20.22% and a negative return on equity of 20.04%. The business had revenue of $154.10 million for the quarter, compared to analysts’ expectations of $151.64 million.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC lifted its position in Varonis Systems by 87.2% during the fourth quarter. Quadrant Capital Group LLC now owns 921 shares of the technology company’s stock valued at $42,000 after purchasing an additional 429 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Varonis Systems in the 1st quarter valued at about $63,000. NBC Securities Inc. purchased a new position in Varonis Systems in the first quarter worth about $68,000. BI Asset Management Fondsmaeglerselskab A S bought a new stake in Varonis Systems during the fourth quarter worth approximately $77,000. Finally, International Assets Investment Management LLC raised its position in Varonis Systems by 1,779.2% during 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 period. 95.65% of the stock is currently owned by institutional investors.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $52.13, for a total value of $260,650.00. Following the completion of the transaction, the director now directly owns 75,682 shares in the company, valued at approximately $3,945,302.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Varonis Systems news, Director Ofer Segev sold 5,000 shares of the business’s stock in a transaction on Friday, February 9th. The shares were sold at an average price of $52.13, for a total value of $260,650.00. Following the sale, the director now owns 75,682 shares in the company, valued at approximately $3,945,302.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gili Iohan sold 19,500 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $50.54, for a total value of $985,530.00. Following the transaction, 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. 2.60% of the stock is owned by corporate insiders.

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.