SailPoint price target lowered to $19 from $25 at TD Cowen

TD Cowen lowered the firm’s price target on SailPoint (SAIL) to $19 from $25 and keeps a Buy rating on the shares. Given broader market contraction, the firm cut its price target on SailPoint despite “solid” Q4 results highlighted by 38% SaaS annual run-rate growth, 28% overall ARR growth, and solid but conservative guidance. As AI drives enterprise modernization, SailPoint is effectively expanding its solutions portfolio and implementing narratives aimed at accelerating enterprise engagement, the analyst tells investors in a research note.