5 Best Growth Stocks for 2022

3. Varonis Systems, Inc. (NASDAQ:VRNS)

Number of Hedge Fund Holders: 27

Varonis Systems, Inc. (NASDAQ:VRNS) markets software products and related services. As enterprise spending on cybersecurity soars, Varonis could benefit from an expanding product suite in the area. In September, the company launched Data Classification Clouds, a solution that monitors and protects data across multiple apps. 

In August, investment advisory Wolfe Research initiated coverage of Varonis Systems, Inc. (NASDAQ:VRNS) stock with an Outperform rating and a price target of $80. Analyst Alex Zukin identified the firm as “one of the best growth stories” in his coverage. 

Among the hedge funds being tracked by Insider Monkey, Massachusetts-based firm Matrix Capital Management is a leading shareholder in Varonis Systems, Inc. (NASDAQ:VRNS) with 1.2 million shares worth more than $75 million.