Wedbush Brokers Reduce Earnings Estimates for Varonis Systems, Inc. (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) – Analysts at Wedbush decreased their Q3 2022 earnings per share estimates for shares of Varonis Systems in a report issued on Tuesday, August 2nd. Wedbush analyst D. Ives now expects that the technology company will post earnings of ($0.24) per share for the quarter, down from their prior forecast of ($0.18). Wedbush has a “Outperform” rating and a $52.00 price objective on the stock. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.90) per share. Wedbush also issued estimates for Varonis Systems’ FY2022 earnings at ($0.98) EPS, Q1 2023 earnings at ($0.38) EPS, Q2 2023 earnings at ($0.26) EPS, Q3 2023 earnings at ($0.18) EPS, Q4 2023 earnings at ($0.11) EPS and FY2023 earnings at ($0.90) EPS.

Several other research analysts have also issued reports on the company. Morgan Stanley reduced their target price on Varonis Systems from $35.00 to $32.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Craig Hallum reduced their target price on Varonis Systems from $64.00 to $35.00 and set a “buy” rating for the company in a report on Tuesday. UBS Group cut their price target on Varonis Systems from $51.00 to $46.00 and set a “buy” rating for the company in a report on Tuesday. Cowen cut their target price on Varonis Systems from $62.00 to $53.00 in a research note on Tuesday. Finally, Royal Bank of Canada lowered their price target on Varonis Systems from $55.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, August 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $45.25.

Varonis Systems Price Performance

Shares of VRNS stock opened at $29.96 on Friday. Varonis Systems has a twelve month low of $24.58 and a twelve month high of $73.46. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of -24.36 and a beta of 1.17. The stock has a fifty day simple moving average of $30.28 and a two-hundred day simple moving average of $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.

Insider Buying and Selling

In other Varonis Systems news, VP Dov Gottlieb sold 8,907 shares of Varonis Systems stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total transaction of $294,554.49. Following the completion of the sale, the vice president now owns 161,722 shares of the company’s stock, valued at approximately $5,348,146.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Ofer Segev sold 1,500 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were sold at an average price of $31.48, for a total transaction of $47,220.00. Following the transaction, the director now owns 75,410 shares in the company, valued at approximately $2,373,906.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dov Gottlieb sold 8,907 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $33.07, for a total transaction of $294,554.49. Following the transaction, the vice president now owns 161,722 shares in the company, valued at approximately $5,348,146.54. The disclosure for this sale can be found here. Company insiders own 1.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Main Street Financial Solutions LLC raised its holdings in Varonis Systems by 6.1% in the 4th quarter. Main Street Financial Solutions LLC now owns 5,253 shares of the technology company’s stock worth $256,000 after acquiring an additional 300 shares during the period. Mackenzie Financial Corp raised its holdings in Varonis Systems by 5.6% in the 1st quarter. Mackenzie Financial Corp now owns 6,103 shares of the technology company’s stock worth $290,000 after acquiring an additional 325 shares during the period. Quadrant Capital Group LLC raised its holdings in Varonis Systems by 116.7% in the 1st quarter. Quadrant Capital Group LLC now owns 622 shares of the technology company’s stock worth $30,000 after acquiring an additional 335 shares during the period. Captrust Financial Advisors raised its holdings in Varonis Systems by 35.9% in the 1st quarter. Captrust Financial Advisors now owns 1,385 shares of the technology company’s stock worth $66,000 after acquiring an additional 366 shares during the period. Finally, Thompson Siegel & Walmsley LLC raised its holdings in Varonis Systems by 2.2% in the 4th quarter. Thompson Siegel & Walmsley LLC now owns 18,700 shares of the technology company’s stock worth $912,000 after acquiring an additional 400 shares during the period. Institutional investors own 93.20% of the company’s stock.

About Varonis Systems

(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.

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

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