SailPoint price target lowered to $22 from $29 at BTIG

BTIG analyst Gray Powell lowered the firm’s price target on SailPoint (SAIL) to $22 from $29 and keeps a Buy rating on the shares as part of a broader research note on Security/Infrastructure Software names heading into Q4 results after the firm has compiled insights from field checks with contacts in the security space. Field checks were directional but notably positive, and the firm sees SailPoint dominating large enterprise IGA accounts, accelerating legacy displacement opportunities, and gaining strong early traction in machine identity and emerging products like Agentic Identity Security, the analyst tells investors in a research note.