BMO Capital analyst Keith Bachman has maintained their bullish stance on SAIL stock, giving a Buy rating yesterday.
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Keith Bachman has given his Buy rating due to a combination of factors that highlight SailPoint, Inc.’s strategic positioning and growth potential. The company is poised to benefit from the expanding role of AI, as evidenced by its recent product announcements aimed at enhancing upsell and cross-sell opportunities. SailPoint’s robust product portfolio, particularly its Atlas platform, is well-equipped to meet the complex needs of managing both human and agent identities, setting it apart from competitors.
Furthermore, SailPoint’s scale is significant, with over 125 million identities under governance and billions of entitlements and SaaS account changes managed annually. This positions the company as a leader in identity governance, capable of handling dynamic and complex requirements. The introduction of new products, such as Agent Identity Security, further solidifies its market position. With anticipated ARR growth in the low- to mid-20% range, SailPoint is seen as deserving of a premium valuation, reinforcing the Buy rating.
In another report released yesterday, Scotiabank also reiterated a Buy rating on the stock with a $25.00 price target.