Shares of LiveRamp Holdings (RAMP - Get Report)  climbed 3.6% to $50.35 Monday after Morgan Stanley initiated coverage of the identity-resolution-platform company with an overweight rating.

Analyst Stan Zlotsky set a price target of $64 a share for the San Francisco company, writing in a note to investors that "LiveRamp's unique software allows marketers to more effectively utilize data and deliver people-based campaigns across devices and channels, while improving marketing dollar return on investment."

"The key to this capability is LiveRamp's IdentityLink software that converts a customer's list of people (customers or prospects) into unique LiveRamp identifiers, removing all references to personally identifiable information," Zlotsky wrote.

"Using LiveRamp identifiers, marketers are then able to address these individuals across a network of more than 550 partners, regardless of the online property being visited or device being utilized, without passing around any sensitive, consumer PII data."

Zlotsky wrote that LiveRamp's capability to be the "Switzerland" in a crowded digital marketing landscape has attracted 665 customers. including 300 of the world's larges brands and agencies, 20% of the Fortune 500, 17 of the top 25 advertisers in the U.S., five of the top programmatic agencies, the largest marketing technology providers, and 18 of the top 20 online publishers.

"In our fieldwork with customers and partners," Zlotsky wrote, "LiveRamp's IdentityLink was routinely highlighted as delivering much better rates between customers' own data and the targeted online platforms."