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.