The Relative Strength (RS) Rating for Varonis Systems moved up into a new percentile Monday, as it got a lift from 64 to 71.
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IBD's unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks compares to other publicly traded companies.
Decades of market research shows that the market's biggest winners often have an RS Rating of at least 80 as they launch their largest price moves. See if Varonis Systems can continue to show renewed price strength and clear that threshold.
Varonis Systems is still inside a buying range after clearing a 51.27 buy point in a cup with handle. The proper buying range extends to 5% above the initial entry. Once a stock hits that benchmark, it's best to wait for it to set up another buying opportunity..
Varonis Systems saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -33% to 0%. Revenue rose from 3% to 20%. The next quarterly results are expected on or around Jul. 29.
Varonis Systems holds the No. 5 rank among its peers in the Computer Software-Database industry group. Commvault Systems is the top-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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