Varonis price target raised to $66 from $59 at Morgan Stanley

Morgan Stanley raised the firm’s price target on Varonis (VRNS) to $66 from $59. Data security posture management is “one of the key areas of investment for AI preparedness” and Varonis “should have been in a perfect position to offer these solutions with customers over the past couple of years,” the analyst tells investors. With its SaaS transition largely expected to be complete by year end, the firm thinks the company will be largely operating at “true” growth and operating levels by 2026, the analyst added.