Wolfe Research analyst Joshua Tilton initiated coverage of SailPoint (SAIL) with an Outperform rating and $27 price target SailPoint “might come off as the middle child of the Identity market,” but while Identity peers try to be everything for everyone, SailPoint has “focused on number one and transitioned from a heavy, on-prem, enterprise-focused business into a nimble, SaaS-based model,” the analyst tells investors. An increasingly complex enterprise application landscape is driving strong demand for best-inclass IGA capabilities and the firm sees “durable growth and expanding margins being the ultimate pay-off,” the analyst added.
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