In a report released yesterday, Keith Weiss from Morgan Stanley maintained a Hold rating on SailPoint, Inc. (SAIL – Research Report), with a price target of $26.00.
Keith Weiss has given his Hold rating due to a combination of factors that reflect both the strengths and challenges facing SailPoint, Inc. The company has demonstrated strong execution in its core Identity Governance and Administration (IGA) market, achieving significant growth in annual recurring revenues and expanding its customer base. SailPoint’s position as a leading provider in the identity management space, with a substantial market share and a large total addressable market, underscores its potential for continued success.
However, the stock’s current valuation, trading at approximately 10 times its expected sales for the fiscal year 2026, suggests that much of this positive outlook is already reflected in the price. Additionally, the competitive landscape is intensifying as SailPoint ventures beyond its core market, facing competition from established players in adjacent areas like Access Management and Privileged Access Management. Moreover, potential federal-related headwinds could limit near-term positive revisions. As a result, while SailPoint is well-positioned for growth, Keith Weiss recommends a Hold rating, awaiting more favorable entry points for investment.
Weiss covers the Technology sector, focusing on stocks such as Adobe, Intuit, and Microsoft. According to TipRanks, Weiss has an average return of 14.2% and a 64.77% success rate on recommended stocks.