William Blair Weighs in on Varonis Systems, Inc.’s Q3 2022 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNSGet Rating) – William Blair cut their Q3 2022 earnings estimates for Varonis Systems in a research report issued on Tuesday, August 2nd. William Blair analyst J. Ader now anticipates that the technology company will post earnings of ($0.23) per share for the quarter, down from their previous forecast of ($0.20). The consensus estimate for Varonis Systems’ current full-year earnings is ($0.90) per share. William Blair also issued estimates for Varonis Systems’ Q4 2022 earnings at ($0.07) EPS, FY2022 earnings at ($0.97) EPS, Q1 2023 earnings at ($0.37) EPS, Q2 2023 earnings at ($0.26) EPS, Q3 2023 earnings at ($0.20) EPS, Q4 2023 earnings at ($0.06) EPS and FY2023 earnings at ($0.92) EPS.

A number of other analysts have also recently weighed in on VRNS. Cowen dropped their price objective on shares of Varonis Systems from $62.00 to $53.00 in a report on Tuesday. Jefferies Financial Group cut their price objective on shares of Varonis Systems from $65.00 to $40.00 in a research report on Monday, May 23rd. UBS Group lowered their price objective on shares of Varonis Systems from $51.00 to $46.00 and set a “buy” rating on the stock in a research note on Tuesday. Truist Financial decreased their price target on shares of Varonis Systems from $65.00 to $50.00 in a research note on Tuesday, May 10th. Finally, Royal Bank of Canada reduced their target price on shares of Varonis Systems from $55.00 to $35.00 and set an “outperform” rating on the stock in a research note on Monday, August 1st. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.25.

Varonis Systems Trading Down 0.9 %

NASDAQ VRNS opened at $29.96 on Friday. Varonis Systems has a 12 month low of $24.58 and a 12 month high of $73.46. The company has a debt-to-equity ratio of 0.47, a current ratio of 4.34 and a quick ratio of 4.61. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of -24.36 and a beta of 1.17. The company’s fifty day moving average price is $30.28 and its two-hundred day moving average price is $36.92.

Insider Activity at Varonis Systems

In other Varonis Systems news, Director Avrohom J. Kess acquired 2,400 shares of Varonis Systems stock in a transaction that occurred on Monday, May 9th. The stock was bought at an average price of $29.95 per share, with a total value of $71,880.00. Following the completion of the purchase, the director now directly owns 8,810 shares of the company’s stock, valued at approximately $263,859.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Varonis Systems news, Director Ofer Segev sold 1,500 shares of the stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $31.48, for a total value of $47,220.00. Following the completion of the sale, 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 SEC, which can be accessed through this hyperlink. Also, Director Avrohom J. Kess acquired 2,400 shares of the stock in a transaction that occurred on Monday, May 9th. The shares were bought at an average cost of $29.95 per share, with a total value of $71,880.00. Following the transaction, the director now directly owns 8,810 shares in the company, valued at approximately $263,859.50. The disclosure for this purchase can be found here. 1.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Varonis Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Varonis Systems in the fourth quarter valued at about $1,444,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Varonis Systems by 1.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 61,787 shares of the technology company’s stock valued at $3,014,000 after purchasing an additional 891 shares in the last quarter. Qube Research & Technologies Ltd raised its position in shares of Varonis Systems by 393.0% in the fourth quarter. Qube Research & Technologies Ltd now owns 26,748 shares of the technology company’s stock valued at $1,305,000 after buying an additional 21,322 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Varonis Systems by 19.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,577 shares of the technology company’s stock valued at $662,000 after buying an additional 2,240 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Varonis Systems by 5.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 856,991 shares of the technology company’s stock valued at $41,870,000 after buying an additional 40,836 shares during the last quarter. 93.20% of the stock is currently owned by institutional investors and hedge funds.

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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