Varonis Systems (VRNS) Explodes on First Day of Trading

NEW YORK (TheStreet) -- Varonis Systems (VRNS) priced its 4.8 million-share initial public offering at $22, but the stock opened much higher on its first day of trading on Friday.

Varonis opened at $39 and was skyrocketing nearly 90% to $41.56 at 11:45 a.m. EST The IPO priced greater than the initial range of $19 to $21.00. Morgan Stanley, Barclays, Jefferies and RBC Capital acted as joint book running managers for the offering.

Varonis helps companies organize and manage their unstructured and partially-structured data.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

VRNS Chart

VRNS data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

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