Shares of enterprise software maker Varonis Systems (VRNS) doubled in their first trading session Friday, reaching as high as $44 p/sh, after the ticker, which gave the company a market cap of more than $1 billion, was priced at $22 at the Nasdaq’s opening bell.
The data analysis software maker, which claims its software platform allows companies to “map, analyze, manage and migrate their unstructured data,” had revenue of $53.4 million and $74.6 million in FY2012, FY2013, respectively, representing y/y growth of 34% and 40% in FY2012 and FY2013, respectively, according to the co.’s S1 filing with the SEC.
While startups like Varonis may not be a household name when compared to other well-known consumer-Internet services like microblogging site Twitter (TWTR) or social media giant Facebook (FB), the business-tech startup with Israeli roots is without doubt a name worth remembering, given the first day jump for VRNS easily topped the 73% jump of Twitter shares from their initial asking price of $26 a share on that company’s November stock-trading kickoff.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply