In a report released today, Shaul Eyal from TD Cowen maintained a Buy rating on SailPoint, Inc. (SAIL – Research Report), with a price target of $30.00.
Shaul Eyal has given his Buy rating due to a combination of factors that highlight SailPoint, Inc.’s strong performance and potential for growth. The company’s recent quarterly results surpassed expectations, demonstrating robust growth in both total and SaaS annual recurring revenue (ARR). This performance underscores the critical importance of the identity management sector, which remains resilient despite broader macroeconomic uncertainties.
Furthermore, SailPoint’s ability to secure new customers and upsell to existing ones has resulted in a significant increase in customers with ARR exceeding $1 million, enhancing revenue predictability. The company’s focus on machine identity and upcoming AI agent strategies are expected to drive further demand. Additionally, the stable macroeconomic environment and the company’s strategic positioning in the public sector contribute to a positive outlook, supporting the Buy recommendation.
In another report released on March 24, Truist Financial also reiterated a Buy rating on the stock with a $29.00 price target.
Based on the recent corporate insider activity of 13 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.