Mizuho lowered the firm’s price target on SailPoint (SAIL) to $23 from $24 and keeps a Neutral rating on the shares. SailPoint delivered a strong Q3 with 28% total annual recurring revenue growth and 38% SaaS ARR, both slightly ahead of expectations, supported by broad demand and solid cloud-migration activity, the analyst tells investors in a research note. The company’s IGA platform plus its SaaS transition position it well for long-term ARPU expansion, though the extent of future cross-selling traction remains uncertain, the firm says.
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