On Tuesday, Varonis Systems received an upgrade to its Relative Strength (RS) Rating, from 70 to 74.
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IBD's proprietary rating identifies share price performance with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Over 100 years of market history shows that the stocks that go on to make the biggest gains tend to have an RS Rating of over 80 in the early stages of their moves. See if Varonis Systems can continue to show renewed price strength and clear that threshold.
Varonis Systems broke out earlier, but has fallen back below the prior 51.27 entry from a cup with handle. In the scenario where a stock breaks out then falls 7% or more below the entry price, it's considered a failed breakout. If that happens, it's best to wait for a new base to take shape. Also understand that the latest consolidation is a later-stage base, and such bases are more prone to failure.
Top and bottom line growth moved higher last quarter. Earnings were up 0%, compared to -33% in the prior report. Revenue increased from 3% to 20%. Look for the next report on or around Aug. 4.
Varonis Systems holds the No. 4 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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