SailPoint initiated with an Overweight at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage of SailPoint (SAIL) with an Overweight rating and $29 price target SailPoint, a best-of-breed company in the Identity Governance and Administration space, appears well-positioned for long-term growth following its February IPO, the analyst tells investors in a research note. Continued innovation, combined with ongoing momentum in the enterprise IGA market, should support mid-20% annual recurring revenue growth over the next several years, Cantor says.