SailPoint initiated with an Outperform at Evercore ISI

Evercore ISI analyst Peter Levine initiated coverage of SailPoint (SAIL) with an Outperform rating and $29 price target The firm says there are only a few software companies today that have SailPoint’s software-as-a-service growth rate and durability. This which warrants an Outperform rating, the analyst tells investors in a research note. Evercore says the company’s projected 32% SaaS growth annual through fiscal 2028 underscores its long-term growth potential and scalability.