Morgan Stanley analyst Meta Marshall has maintained their bullish stance on VRNS stock, giving a Buy rating today.
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Meta Marshall has given his Buy rating due to a combination of factors, primarily focusing on Varonis Systems’ strategic positioning in the AI data security sector. Despite the challenges faced in the third quarter, including unclear communication regarding the quarter’s performance and subsequent strategic changes, the company’s long-term potential remains attractive.
The transition to a SaaS model is expected to enhance growth prospects, and the company’s recent actions, such as the share repurchase program, demonstrate a commitment to restoring investor confidence. While short-term uncertainties exist, particularly concerning the on-premise product and federal team adjustments, the overall outlook for AI-driven data security solutions continues to support a positive investment thesis.
In another report released today, Needham also maintained a Buy rating on the stock with a $55.00 price target.