Varonis Systems (NASDAQ:VRNS – Get Free Report) issued an update on its FY24 earnings guidance on Monday morning. The company provided earnings per share (EPS) guidance of $0.22-0.24 for the period, compared to the consensus estimate of $0.16. The company issued revenue guidance of $544-552 million, compared to the consensus revenue estimate of $541.98 million. Varonis Systems also updated its FY 2024 guidance to 0.220-0.240 EPS.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on the company. Barclays increased their price objective on Varonis Systems from $53.00 to $55.00 and gave the stock an overweight rating in a report on Thursday, July 11th. 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 research note on Tuesday, May 7th. Needham & Company LLC reaffirmed a hold rating on shares of Varonis Systems in a research note on Monday, May 13th. Robert W. Baird raised Varonis Systems from a neutral rating to an outperform rating and increased their price target for the company from $52.00 to $60.00 in a research note on Tuesday. Finally, JPMorgan Chase & Co. raised Varonis Systems from a neutral rating to an overweight rating and increased their price target for the company from $50.00 to $54.00 in a research note on Friday, June 14th. Six research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Varonis Systems currently has a consensus rating of Moderate Buy and a consensus price target of $51.06.
Read Our Latest Stock Analysis on VRNS
Varonis Systems Price Performance
Shares of NASDAQ:VRNS opened at $48.49 on Tuesday. The firm has a market cap of $5.41 billion, a price-to-earnings ratio of -51.59 and a beta of 0.82. Varonis Systems has a 1 year low of $28.15 and a 1 year high of $52.88. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.55. The business has a fifty day simple moving average of $45.47 and a 200 day simple moving average of $46.34.
Varonis Systems (NASDAQ:VRNS – Get Free Report) last released its quarterly earnings data on Monday, May 6th. The technology company reported ($0.37) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.37). The firm had revenue of $114.02 million during the quarter, compared to analysts’ expectations of $113.81 million. Varonis Systems had a negative return on equity of 21.33% and a negative net margin of 20.38%. As a group, sell-side analysts predict that Varonis Systems will post -0.97 earnings per share for the current fiscal year.
Insider Activity at Varonis Systems
In related news, CEO Yakov Faitelson sold 284,211 shares of Varonis Systems stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $45.23, for a total transaction of $12,854,863.53. Following the completion of the sale, the chief executive officer now owns 1,452,922 shares of the company’s stock, valued at $65,715,662.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.60% of the company’s stock.
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.
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