Varonis Systems (NASDAQ:VRNS) Issues FY 2022 Earnings Guidance

Varonis Systems (NASDAQ:VRNSGet Rating) updated its FY 2022 earnings guidance on Tuesday. The company provided EPS guidance of $0.19-$0.22 for the period, compared to the consensus EPS estimate of $0.17. The company issued revenue guidance of $485.00 million-$490.00 million, compared to the consensus revenue estimate of $487.85 million. Varonis Systems also updated its Q3 2022 guidance to $0.05-$0.06 EPS.

Analyst Ratings Changes

Several research firms recently commented on VRNS. Cowen cut their price objective on shares of Varonis Systems from $62.00 to $53.00 in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Varonis Systems from $40.00 to $35.00 and set an overweight rating for the company in a report on Tuesday. Royal Bank of Canada cut their price target on shares of Varonis Systems from $55.00 to $35.00 and set an outperform rating for the company in a report on Monday. Wedbush cut their price target on shares of Varonis Systems from $60.00 to $52.00 and set an outperform rating for the company in a report on Tuesday, May 3rd. Finally, Barclays cut their price target on shares of Varonis Systems from $36.00 to $32.00 and set an equal weight rating for the company in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Varonis Systems presently has an average rating of Moderate Buy and an average target price of $45.25.

Varonis Systems Price Performance

Shares of Varonis Systems stock traded down $0.28 on Friday, hitting $29.96. 887,914 shares of the company traded hands, compared to its average volume of 1,237,743. The firm’s 50-day simple moving average is $30.28 and its 200 day simple moving average is $36.92. The company has a current ratio of 4.34, a quick ratio of 4.61 and a debt-to-equity ratio of 0.47. The company has a market cap of $3.28 billion, a P/E ratio of -24.36 and a beta of 1.17. Varonis Systems has a 12-month low of $24.58 and a 12-month high of $73.46.

Varonis Systems (NASDAQ:VRNSGet Rating) last issued its earnings results on Monday, May 2nd. The technology company reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.10). The business had revenue of $96.26 million during the quarter, compared to analysts’ expectations of $96.00 million. Varonis Systems had a negative return on equity of 22.15% and a negative net margin of 30.67%. During the same quarter in the previous year, the business earned ($0.34) EPS. Analysts expect that Varonis Systems will post -0.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Varonis Systems news, Director Avrohom J. Kess bought 2,400 shares of the firm’s stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average price of $29.95 per share, for a total transaction of $71,880.00. Following the transaction, the director now directly owns 8,810 shares in the company, valued at $263,859.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total value of $294,554.49. Following the transaction, the vice president now owns 161,722 shares in the company, valued at $5,348,146.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Avrohom J. Kess acquired 2,400 shares of the firm’s stock in a transaction on Monday, May 9th. The stock was purchased at an average price of $29.95 per share, for a total transaction of $71,880.00. Following the transaction, the director now directly owns 8,810 shares of the company’s stock, valued at approximately $263,859.50. The disclosure for this purchase can be found here. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Varonis Systems

A number of hedge funds have recently modified their holdings of the company. Washington Harbour Partners LP purchased a new position in shares of Varonis Systems in the first quarter valued at about $2,377,000. Weiss Multi Strategy Advisers LLC increased its position in shares of Varonis Systems by 140.4% in the first quarter. Weiss Multi Strategy Advisers LLC now owns 120,555 shares of the technology company’s stock valued at $5,731,000 after acquiring an additional 70,410 shares during the period. Advisors Asset Management Inc. increased its position in shares of Varonis Systems by 48.5% in the first quarter. Advisors Asset Management Inc. now owns 3,963 shares of the technology company’s stock valued at $188,000 after acquiring an additional 1,295 shares during the period. Eaton Vance Management purchased a new position in shares of Varonis Systems in the first quarter valued at about $2,163,000. Finally, Captrust Financial Advisors increased its position in shares of Varonis Systems by 35.9% in the first quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock valued at $66,000 after acquiring an additional 366 shares during the period. Hedge funds and other institutional investors own 93.20% of the company’s stock.

Varonis Systems Company Profile

(Get Rating)

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; strategic and product plans; and other intellectual property.

See Also

Earnings History and Estimates for Varonis Systems (NASDAQ:VRNS)

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