Morgan Stanley thinks Varonis Systems could be in for major gains thanks to artificial intelligence.
The firm upgraded the software stock to overweight from equal weight in a Monday note.
Varonis provides security software for unstructured data vulnerable to cyber attacks.
"[I]f Gen AI tailwinds become more apparent, we see the stock potentially doubling from here in our $62 bull case ... closer to higher growth SaaS and Security peers," Fodderwala.
VRNS YTD mountain Varonis Systems stock.
Persons:
Morgan Stanley, Varonis, Hamza Fodderwala, tailwinds, Fodderwala, — CNBC's Michael Bloom
Organizations:
Varonis Systems
Locations:
Friday's