BMO Capital analyst Keith Bachman initiated coverage of SailPoint (SAIL) with an Outperform rating and $26 price target The firm believes security remains a top IT spend priority, identity is one of the most important areas within security, and SailPoint is “one of the key players in the identity market.” SailPoint will benefit from consolidation of identity spend, along with Okta and CyberArk, the analyst tells investors in a research note. BMO says the growth of machine and agent identities can drive potential upside to estimates.
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