Wells Fargo raised the firm’s price target on SailPoint (SAIL) to $20 from $16 and keeps an Equal Weight rating on the shares. The firm notes SailPoint traded up 17% intraday off good Q1 results. Management raised the annual guide, which is more than what most other companies did in Q1. With about 20% revenue growth and mid-teens operating margin, Wells believes shares are fairly valued at about 9-times EV/Sales.
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