These Analysts Raise Their Forecasts On Varonis Systems Following Upbeat Results
Portfolio Pulse from Avi Kapoor
Varonis Systems (NASDAQ:VRNS) reported better-than-expected Q2 financial results and raised its FY24 guidance. The company beat earnings and sales estimates, leading to several analysts raising their price targets.
July 30, 2024 | 1:20 pm
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Varonis Systems reported Q2 earnings of 5 cents per share, beating the consensus estimate of a 2-cent loss. Sales were $130.346 million, surpassing the $124.842 million estimate. The company raised its FY24 revenue and earnings guidance. Analysts responded positively, with several raising their price targets.
Varonis Systems' better-than-expected Q2 results and raised FY24 guidance indicate strong performance and future growth potential. The positive analyst reactions and increased price targets suggest a bullish outlook, likely driving the stock price up in the short term.
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