DA Davidson Weighs in on Varonis Systems, Inc.’s Q1 2024 Earnings (NASDAQ:VRNS)

Varonis Systems, Inc. (NASDAQ:VRNSFree Report) – Equities research analysts at DA Davidson issued their Q1 2024 earnings per share estimates for Varonis Systems in a note issued to investors on Tuesday, February 6th. DA Davidson analyst R. Kessinger expects that the technology company will post earnings per share of ($0.38) for the quarter. DA Davidson has a “Neutral” rating and a $45.00 price target on the stock. The consensus estimate for Varonis Systems’ current full-year earnings is ($0.81) per share. DA Davidson also issued estimates for Varonis Systems’ FY2024 earnings at ($0.95) EPS and FY2025 earnings at ($0.96) EPS.

Several other equities research analysts have also issued reports on VRNS. Susquehanna started coverage on Varonis Systems in a research note on Friday, December 15th. They set a “positive” rating and a $55.00 price objective for the company. Robert W. Baird lifted their price target on Varonis Systems from $45.00 to $48.00 and gave the stock a “neutral” rating in a research note on Tuesday. Barclays raised Varonis Systems from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $35.00 to $37.00 in a research note on Friday, October 13th. JPMorgan Chase & Co. lifted their price target on Varonis Systems from $49.00 to $50.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, TheStreet raised Varonis Systems from a “d+” rating to a “c-” rating in a research note on Monday, November 13th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $48.40.

View Our Latest Research Report on VRNS

Varonis Systems Price Performance

NASDAQ:VRNS opened at $50.69 on Thursday. The firm has a market capitalization of $5.52 billion, a price-to-earnings ratio of -55.10 and a beta of 0.83. Varonis Systems has a 52-week low of $22.34 and a 52-week high of $51.24. The stock has a fifty day moving average of $44.96 and a 200 day moving average of $36.69. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.57 and a current ratio of 2.57.

Insider Activity at Varonis Systems

In related news, SVP James O’boyle sold 4,098 shares of the business’s stock in a transaction dated Monday, December 18th. The stock was sold at an average price of $45.50, for a total transaction of $186,459.00. Following the transaction, the senior vice president now owns 460,061 shares in the company, valued at approximately $20,932,775.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 28,458 shares of company stock worth $1,295,413 in the last 90 days. Company insiders own 2.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Lord Abbett & CO. LLC purchased a new position in shares of Varonis Systems during the 3rd quarter worth approximately $36,317,000. Scopia Capital Management LP purchased a new position in shares of Varonis Systems during the 1st quarter worth approximately $30,638,000. RGM Capital LLC grew its holdings in shares of Varonis Systems by 147.1% during the 2nd quarter. RGM Capital LLC now owns 1,810,874 shares of the technology company’s stock worth $48,260,000 after acquiring an additional 1,077,922 shares during the period. Norges Bank purchased a new stake in shares of Varonis Systems in the 4th quarter worth approximately $25,432,000. Finally, Cadian Capital Management LP grew its stake in shares of Varonis Systems by 34.6% in the 3rd quarter. Cadian Capital Management LP now owns 3,574,334 shares of the technology company’s stock worth $109,160,000 after buying an additional 919,334 shares during the last quarter. Hedge funds and other institutional investors own 92.47% of the company’s stock.

Varonis Systems Company Profile

(Get Free Report)

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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