SailPoint upgraded to Overweight from Neutral at JPMorgan

JPMorgan upgraded SailPoint (SAIL) to Overweight from Neutral with an unchanged price target of $26. The shares have been under pressure into the initial public offer lockup, which expired on August 12, the analyst tells investors in a research note. The firm sees the pullback as providing an opportunity to own a “best-of-breed vendor at a discount,” noting identity continues to move up the tech priority stack. SailPoint is one of the best positioned identity platforms to benefit from share consolidation, the analyst tells investors in a research note.