Truist analyst Junaid Siddiqui lowered the firm’s price target on SailPoint (SAIL) to $18 from $23 and keeps a Buy rating on the shares. The company’s Q4 results were above guidance for all metrics, including annualized recurring revenue and operating margin, with outperformance driven by progress in SaaS migrations and strength in its emerging products, the analyst tells investors in a research note. SailPoint is continuing to see momentum across its platform and is set up well for a generative AI opportunity, which can become a significant growth engine going forward, the firm added.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SAIL:
- SailPoint price target lowered to $18 from $25 at Morgan Stanley
- SailPoint price target lowered to $22 from $26 at Baird
- SailPoint: Strong ARR Momentum, Conservative 2027 Guidance, and SaaS Transition Support Buy Rating
- SailPoint price target lowered to $18 from $21 at Goldman Sachs
- SailPoint price target lowered to $17 from $25 at BMO Capital