In a report released yesterday, Keith Bachman from BMO Capital maintained a Buy rating on SailPoint, Inc. (SAIL – Research Report), with a price target of $26.00.
Keith Bachman has given his Buy rating due to a combination of factors that highlight SailPoint, Inc.’s strong market position and growth potential. The company reported impressive results upon its return to the public market, with higher-than-expected free cash flow generation and a robust pipeline, particularly in the Identity Governance and Administration (IGA) sector, which is crucial for security.
Furthermore, SailPoint’s annual recurring revenue (ARR) growth is notable, with a significant portion coming from new customer acquisitions and existing customer upgrades. The management’s guidance for FY26 ARR suggests a healthy growth trajectory, and the company’s strategic positioning to leverage AI advancements further supports its potential for sustained growth. These factors contribute to Bachman’s confidence in SailPoint’s ability to achieve its target price and justify the Buy rating.
Bachman covers the Technology sector, focusing on stocks such as Adobe, Accenture, and Cognizant. According to TipRanks, Bachman has an average return of 10.7% and a 57.69% success rate on recommended stocks.
In another report released today, Barclays also maintained a Buy rating on the stock with a $27.00 price target.