TD Cowen analyst Shaul Eyal has maintained their bullish stance on SAIL stock, giving a Buy rating on November 11.
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Shaul Eyal’s rating is based on several compelling factors that position SailPoint, Inc. for potential growth. The company is expected to surpass its conservative guidance for net new annual recurring revenue (NNARR), driven by strong demand for identity governance solutions. This demand is fueled by both new customer acquisitions and expansions within existing accounts, indicating a healthy spending trend in the identity and access management sector.
Additionally, the recent documented misuse of AI models for large-scale cyberattacks highlights the increasing importance of robust identity governance solutions. SailPoint is well-positioned to capitalize on this growing need, given its comprehensive offerings in the space. Despite some pressure on operating margins due to investments in new products and go-to-market initiatives, the company remains poised to benefit from a significant total addressable market. Eyal reiterates a Buy rating with a price target of $30, reflecting confidence in SailPoint’s strategic positioning and growth prospects.
In another report released on November 11, RBC Capital also maintained a Buy rating on the stock with a $24.00 price target.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SAIL in relation to earlier this year.