RBC Capital raised the firm’s price target on SailPoint (SAIL) to $29 from $27 and keeps an Outperform rating on the shares. The company posted a strong quarter highlighted by ARR – annual recurring revenue – and SAAS ARR growth of 30% and 39% respectively, the analyst tells investors in a research note. RBC adds that the demand environment for SailPoint remains favorable, while identity security remains a top investment priority due to increasing complexity and the rise of NHIs, or Non-Human Identities.
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