Varonis Systems (VRNS) Could Be 4% Undervalued As The Proofpoint Bid Nears Fair Value

Varonis Systems (VRNS) is back in focus after Proofpoint agreed to acquire the data security specialist in an all cash deal valued at about US$6.3b, with an offer to investors of US$49.75 per share. The takeover news has effectively set a ceiling for near term moves, with the share price at US$48.72 and a 1 day share price return of 2.92%, pulling Varonis Systems closer to the US$49.75 offer. At the same time, the 52.06% year to date share price return contrasts with a 1 year total...