SailPoint, Inc. (SAIL) has received a new Buy rating, initiated by Jefferies analyst, Joseph Gallo.
Joseph Gallo has given his Buy rating due to a combination of factors that highlight SailPoint, Inc.’s strong market position and growth potential. SailPoint is recognized as a leader in Identity Governance and Administration (IGA), and it has successfully expanded its platform to include machine identity and data governance solutions. This expansion underpins the confidence in the company’s ability to achieve over 20% annual recurring revenue (ARR) growth in the coming years.
Furthermore, SailPoint is seen as a disruptive innovator in the identity market, which is becoming increasingly important with the adoption of generative AI. The company’s transition to a SaaS model, improved profitability, and broadened product offerings contribute to its promising outlook. Additionally, the total addressable market for SailPoint is projected to grow significantly, providing ample opportunities for the company to capture market share and sustain its growth trajectory.
Gallo covers the Technology sector, focusing on stocks such as Check Point, CyberArk Software, and Okta. According to TipRanks, Gallo has an average return of 13.9% and a 68.75% success rate on recommended stocks.
In another report released today, Barclays also initiated coverage with a Buy rating on the stock with a $27.00 price target.
Questions or Comments about the article? Write to editor@tipranks.com