Varonis SystemsNASDAQ: VRNS

Varonis Systems, Inc. (NASDAQ:VRNS ) Q3 2024 Results Earnings Conference Call October 30, 2024 4:30 PM ET Company Participants Tim Perz - Vice President of Investor Relations Yaki Faitelson - Chief Executive Officer, President, Co-Founder and Chairman Guy Melamed - Chief Financial Officer and Chief Operating Officer Conference Call Participants Matthew Hedberg - RBC Capital Markets Hamza Fodderwala - Morgan Stanley Saket Kalia - Barclays Capital Brian Essex - J.P. Morgan Joel Fishbein - Truist Securities Fatima Boolani - Citibank Roger Boyd - UBS Andrew Nowinski - Wells Fargo Joseph Gallo - Jefferies Jason Ader - William Blair Rob Owens - Piper Sandler Joshua Tilton - Wolfe Research Rudy Kessinger - D.A.

Although the revenue and EPS for Varonis (VRNS) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Varonis Systems (VRNS) came out with quarterly earnings of $0.10 per share, beating the Zacks Consensus Estimate of $0.07 per share. This compares to earnings of $0.08 per share a year ago.

I recommend Varonis Systems as a 'Buy' due to re-accelerating revenue growth, strong price momentum, and significant insider buying. Despite having not produced an operating profit, Varonis is already generating close to $100 million of cash from operations. Varonis' premium valuation is justified by projected revenue growth, strong price momentum, and substantial insider share purchases, indicating confidence in the stock's undervaluation.

NEW YORK, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS) (“Company” or “Varonis”), announced today that it priced a private offering of $400 million aggregate principal amount of 1.00% Convertible Senior Notes due 2029 (the “Notes”). The Notes will only be sold to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”). The offering size was increased from the previously announced offering size of $350 million aggregate principal amount of notes. The Company also granted to the initial purchasers of the Notes a 13-day option to purchase up to an additional $60 million aggregate principal amount of Notes. The sale is expected to close on September 10, 2024, subject to satisfaction of the conditions to closing.

NEW YORK, Aug. 26, 2024 (GLOBE NEWSWIRE) -- Varonis Systems, Inc. (Nasdaq: VRNS), a leader in data security, announced its participation at the following upcoming conference:

Does Varonis Systems (VRNS) have what it takes to be a top stock pick for momentum investors? Let's find out.

Does Varonis Systems (VRNS) have what it takes to be a top stock pick for momentum investors? Let's find out.

I stay buy rated given the accelerating growth due to successful SaaS transition and strong MDDR adoption. 2Q24 earnings beat expectations with total revenue growth at a new high, driving optimism for future growth outlook. My price target for VRNS is ~$77.