DA Davidson Comments on Varonis Systems Q4 Earnings

Varonis Systems, Inc. (NASDAQ:VRNS) – Equities researchers at DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for Varonis Systems in a note issued to investors on Wednesday, October 30th. DA Davidson analyst R. Kessinger forecasts that the technology company will earn ($0.15) per share for the quarter. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.83) per share.

Varonis Systems (NASDAQ:VRNS) last released its quarterly earnings data on Monday, July 29th. The technology company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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 firm 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 firm posted ($0.35) earnings per share. The firm’s quarterly revenue was up 12.9% on a year-over-year basis.

Other research analysts have also recently issued reports about the company. Needham & Company LLC restated a “hold” rating on shares of Varonis Systems in a research note on Tuesday, July 30th. UBS Group upped their price target on Varonis Systems from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Piper Sandler upped their price target on Varonis Systems from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on Varonis Systems from $45.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upped their price objective on Varonis Systems from $59.00 to $65.00 and gave the stock an “overweight” rating in a research report on Monday. Six investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.75.

Varonis Systems Stock Down 10.7 %

NASDAQ:VRNS opened at $52.48 on Thursday. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.55. The stock’s fifty day moving average is $56.10 and its two-hundred day moving average is $49.99. Varonis Systems has a 52 week low of $31.56 and a 52 week high of $60.58. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -55.83 and a beta of 0.82.

Hedge Funds Weigh In On Varonis Systems

Hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its holdings in shares of Varonis Systems by 445.3% during the third quarter. Farther Finance Advisors LLC now owns 518 shares of the technology company’s stock worth $29,000 after purchasing an additional 423 shares during the last quarter. Fidelis Capital Partners LLC purchased a new position in shares of Varonis Systems during the first quarter worth about $63,000. International Assets Investment Management LLC grew its holdings in shares of Varonis Systems by 5,550.0% during the third quarter. International Assets Investment Management LLC now owns 2,486 shares of the technology company’s stock worth $140,000 after purchasing an additional 2,442 shares during the last quarter. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Varonis Systems during the second quarter worth about $215,000. Finally, O Neil Global Advisors Inc. boosted its stake in shares of Varonis Systems by 4.8% during the second quarter. O Neil Global Advisors Inc. now owns 4,775 shares of the technology company’s stock worth $229,000 after buying an additional 220 shares during the period. Hedge funds and other institutional investors own 95.65% of the company’s stock.

Insider Activity at Varonis Systems

In related news, Vice Chairman James O’boyle sold 50,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $59.76, for a total value of $2,988,000.00. Following the transaction, the insider now owns 444,114 shares of the company’s stock, valued at $26,540,252.64. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate 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.