Analyst Tal Liani from Bank of America Securities reiterated a Buy rating on SailPoint, Inc. and keeping the price target at $27.50.
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Tal Liani has given his Buy rating due to a combination of factors that highlight SailPoint’s strong financial performance and strategic positioning. The company reported impressive third-quarter results, with annual recurring revenue (ARR) and revenue growth significantly exceeding market expectations. This growth was driven by robust upsell and cross-sell activities, as well as the acquisition of new customers. Additionally, SailPoint’s operating margin and earnings per share also surpassed projections, indicating efficient management and a solid business model.
Moreover, Tal Liani notes the continued demand for SailPoint’s offerings, particularly in the SaaS segment, which has been a key driver of net-new ARR growth. The company’s emerging modules, such as non-employee risk management and data access security, have shown remarkable growth and high attachment rates to new SaaS customers. SailPoint’s strategic focus on AI-related offerings and its position in the identity market further bolster its growth prospects, making it well-positioned to outperform its cybersecurity peers. These factors collectively support the Buy rating and the price objective of $27.50.
According to TipRanks, Liani is a 5-star analyst with an average return of 9.6% and a 57.79% success rate. Liani covers the Technology sector, focusing on stocks such as CrowdStrike Holdings, Ciena, and SailPoint, Inc..
In another report released yesterday, Robert W. Baird also assigned a Buy rating to the stock with a $26.00 price target.