SailPoint initiated with a Neutral at Mizuho

Mizuho initiated coverage of SailPoint (SAIL) with a Neutral rating and $25 price target The firm believes SailPoint’s “robust and highly scalable” identity governance and administration platform is in a “class of its own,” and that the company is now better positioned to capitalize on the growing need to manage and secure digital identities. However, the degree of cross-selling success that SailPoint will have in the future is uncertain, and the shares are fairly valued at current levels, the analyst tells investors in a research note.