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SailPoint initiated with a Neutral at Goldman Sachs

Goldman Sachs initiated coverage of SailPoint (SAIL) with a Neutral rating and $23 price target which represents 4% upside. SailPoint has a “clear runway” to continue taking share from legacy solutions in the identity market from its 20% market share today, catalyzed by enterprises continuing to navigate increasing IT complexity, a dynamic threat landscape, and regulatory scrutiny, the analyst tells investors in a research note. However, the firm views the stock as fairly valued at current levels.

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