SailPoint price target raised to $25 from $23 at Goldman Sachs
Goldman Sachs raised the firm's price target on SailPoint (SAIL) to $25 from $23 and keeps a Neutral rating on the shares. The stock was up 15% today following a solid Q1 report, with SaaS annual recurring revenue up 39% y/y and net new ARR up 43%, the analyst tells investors in a research note. SailPoint management also noted stable demand as a function of consistent win rates and overall strength in Identity budgets, and is not factoring in any additional conservatism due to the macro environment, the firm added.
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