Varonis Systems, Inc. (NASDAQ: VRNS) shares rose on Monday February 13 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile U.S. stock-market indexes opened higher on Monday, setting intraday all-time highs shortly after market open. The S&P 500 SPX, +0.35% opened up 6 points, or 0.2%, at 2,322.
The Nasdaq Composite COMP, +0.44% began the session up 18 points, or 0.3% higher at 5,752. The Dow Jones Industrial Average DJIA, +0.51% added 64 points or 0.3%, to 20,340 at the open.
Analysts at Imperial Capital reiterated an Outperform rating on shares of Varonis Systems, Inc. (NASDAQ: VRNS) in a reserach note to investors, making it one of the more closely watched stocks on Wall Street. With a rating of Outperform on the stock, the company has a 52-week high of $32.05. The one-year price target of $34.22 is higher than the opening price of $27.80, resulting a number of other analysts to comment on the stock in recent days. Stock prices sometimes get a boost to the upside when analysts reiterate coverage.
Yesterday Varonis Systems, Inc. (NASDAQ: VRNS) shares last traded at $28.08, an increase of $0.03 compared to the previous closing price. Opening at $27.80, they fluctuated from $26.85 and $28.20 throughout the day.
Varonis Systems, Inc. (NASDAQ: VRNS) now has a market cap of 750.64M.
Varonis Systems, Inc. (NASDAQ: VRNS) Average Daily Trading Volume
The stock’s average daily volume is 292,766 shares out of a total float 15,537,000 and some 99,961 shares crossed the trading desk yesterday, 85 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use increases in trading volume to identify heavy volume accumulation or distribution by institutional investors.
However, a single day of heavy buy side trading is not enough to assert a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you’re considering.
Varonis Systems, Inc. (NASDAQ: VRNS) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Varonis Systems, Inc. (NASDAQ: VRNS) now has a 50-day MA of $28.49 and 200-day MA of $28.51. It has traded in a 52-week range between $14.50 – 32.050 and today’s last price is 12.40%% lower than the 52 week high of $32.05.
Indeed, earnings growth is among the most critical things to look at in regards to stock investing and, accordingly, investors identify companies that have raised their earnings by at least 25% over a 3 year period.
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