NEW YORK (TheStreet) --Varonis Systems Inc.
(VRNS) surged 19.9% on Tuesday, closing at $43.78, as it made a comeback from its post IPO low that pushed the share price to $35.12 yesterday. The big data analytics software maker had priced its initial price offering at $22 per share on February 28, 2014.
Varonis rebounded as RBC Capital and Needham & Co. each initiated coverage on the stock today with a "buy" rating on the company.
RBC Capital sees the company in a prime position in an expanding data analytics market. The firm set its price target at $50. Neeham & Co. set a $48 price target.
STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts