Varonis Systems saw a welcome improvement to its Relative Strength (RS) Rating on Thursday, rising from 73 to 84.
Looking For The Best Stocks To Buy And Watch? Start Here
IBD's proprietary rating tracks share price performance with a 1 (worst) to 99 (best) score. The score shows how a stock's price movement over the last 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the best-performing stocks tend to have an 80 or better RS Rating as they begin their biggest runs.
Varonis Systems is now considered extended and out of buy range after clearing a 51.27 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Varonis Systems posted -40% EPS growth in the latest quarterly report. Revenue increased 17%.
The company earns the No. 3 rank among its peers in the Computer Software-Database industry group. Commvault Systems is the No. 1-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.
RELATED:
IBD Stock Rating Upgrades: Rising Relative Strength
Why Should You Use IBD's Relative Strength Rating?
How Relative Strength Line Can Help You Judge A Stock
Ready To Grow Your Investing Skills? Join An IBD Meetup Group!
