Varonis Systems (NASDAQ:VRNS) Updates Q4 Earnings Guidance

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

Varonis Systems Price Performance

Shares of VRNS traded up $1.40 during mid-day trading on Tuesday, hitting $58.78. 2,571,343 shares of the company traded hands, compared to its average volume of 1,300,178. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of -62.20 and a beta of 0.82. Varonis Systems has a one year low of $31.03 and a one year high of $60.58. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.55. The business has a 50-day moving average of $56.14 and a 200 day moving average of $49.87.

Varonis Systems (NASDAQ:VRNS) last posted its quarterly earnings data 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 business had revenue of $130.35 million for 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 firm’s revenue was up 12.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.35) EPS. As a group, equities analysts expect that Varonis Systems will post -0.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently commented on VRNS shares. Robert W. Baird upped their price target on shares of Varonis Systems from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Wednesday, October 23rd. Truist Financial reiterated a “buy” rating and set a $60.00 price target (up previously from $55.00) on shares of Varonis Systems in a report on Tuesday, July 30th. Needham & Company LLC reissued a “hold” rating on shares of Varonis Systems in a research report on Tuesday, July 30th. Susquehanna lifted their price objective on Varonis Systems from $55.00 to $65.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research note on Monday. Six investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Varonis Systems presently has an average rating of “Moderate Buy” and a consensus target price of $58.31.

Insider Activity at Varonis Systems

In other Varonis Systems news, Vice Chairman James O’boyle sold 50,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $59.76, for a total transaction of $2,988,000.00. Following the completion of the sale, the insider now directly owns 444,114 shares in the company, valued at approximately $26,540,252.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

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.