The chart of the day belongs to the software company Varonis Systems (VRNS), states Jim Van Meerten of BarChart.com.
I found the stock by using Barchart's powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum, and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 10 / 17 the stock gained 16.66%.
VRNS Price vs Daily Moving Averages
Varonis Systems, Inc. provides software products and services that allow enterprises to manage, analyze, alert, and secure enterprise data in North America, Europe, the Middle East, Africa, and internationally. Its software enables enterprises to protect data stored on-premises and in the cloud, including sensitive files and emails; confidential personal data belonging to customers, and patients and employees' data; financial records; strategic and product plans; and other intellectual property.
Barchart Technical Indicators:
- 100% technical buy signals
- 96.30+ Weighted Alpha
- 96.47% gain in the last year
- Trend Seeker buy signal
- Above its 20, 50, and 100-day moving averages
- 13 new highs and up 22.56% in the last month
- Relative Strength Index 80.08%
- Technical support level at $38.90
- Recently traded at $37.49 with a 50-day moving average of $32.72
Fundamental Factors:
- Market Cap $4.27 billion
- Revenue is expected to grow 4.90% this year and another 9.60% next year
- Earnings are estimated to increase 72.20% this year, an additional 12.90% next year, and continue to compound at an annual rate of 46.80% for the next five years
Analysts and Investor Sentiment: I don't buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it's hard to make money swimming against the tide:
- Wall Street analysts gave eight strong buy, four buy, nine hold, and one sell opinions on the stock
- Analysts' price targets are between $25 and $63 with a price target that wide you can see why I wrote WHO KNOWS? in the title
- The individual investors following the stock on Motley Fool voted 82 to 4 for the stock to beat the market with the more experienced investors voting 18 to two for the same result
- Value Line rates it the highest rating of one
- CFRAs MarketScope rates it a hold
- 7,440 investors monitor the stock on Seeking Alpha
Additional disclosure: The Barchart Chart of the Day highlights stocks that are experiencing exceptional current price appreciation. They are not intended to be buy recommendations as these stocks are extremely volatile and speculative. Should you decide to add one of these stocks to your investment portfolio it is highly suggested you follow a predetermined diversification and moving stop loss discipline that is consistent with your personal investment risk tolerance and reevaluate your stop losses at least every week.
On the date of publication, Jim Van Meerten did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
