Analyst Gray Powell of BTIG reiterated a Buy rating on SailPoint, Inc., reducing the price target to $18.00.
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Gray Powell has given his Buy rating due to a combination of factors tied to SailPoint’s solid execution and attractive growth profile. He notes that annual recurring revenue and free cash flow both exceeded expectations in the latest quarter, and that net new ARR grew at a pace that outperforms most peers while also accelerating versus the prior year.
Powell also believes management’s initial fiscal 2027 ARR guidance is intentionally conservative, pointing to SailPoint’s track record of exceeding prior outlooks and the powerful uplift from customers shifting from term and perpetual licenses to the company’s SaaS platform. He highlights growing adoption of emerging products and increased migrations from legacy identity governance tools as additional drivers that support sustaining ARR growth in the mid‑20s percentage range, which underpins his Buy rating despite a lower price target.
According to TipRanks, Powell is a 4-star analyst with an average return of 5.9% and a 50.92% success rate. Powell covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Dynatrace, and SailPoint, Inc..
In another report released today, Barclays also maintained a Buy rating on the stock with a $16.00 price target.