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Investing.com - Truist Securities has reiterated its Buy rating on SailPoint Technologies Holdings (NASDAQ:SAIL) with a price target of $29.00 following the company’s Navigate user conference. The target represents a 31% upside from the current price of $22.08, with analyst targets ranging from $23 to $30. According to InvestingPro data, the stock appears overvalued at current levels.
The firm noted that SailPoint unveiled several new products during the conference, including Agent Identity Security, an enhanced Atlas Enterprise platform, and Privilege Security Posture Management.
SailPoint also introduced a new flex subscription license and provided details about its suites and relative pricing during an investor session at the conference.
Truist Securities expressed an incrementally positive outlook on SailPoint, stating the company is well-positioned to continue gaining market share in traditional Identity Governance and Administration (IGA) while also benefiting from growth in machine identity and agents.
Following the conference, Truist Securities raised its fiscal year 2027 Annual Recurring Revenue (ARR) estimates and fiscal year 2028 Free Cash Flow (FCF) projections for SailPoint Technologies.
In other recent news, SailPoint Technologies has been the focus of several analyst assessments and product enhancements. Mizuho has maintained its Neutral rating on the company, raising the price target to $25 after attending SailPoint’s analyst session, where management underscored the strengths of its identity platform. Meanwhile, TD Cowen reiterated a Buy rating with a $30 price target, highlighting SailPoint’s growth opportunities in the identity and access management market, as discussed during the Navigate 25 event. Piper Sandler also reaffirmed an Overweight rating with a $30 price target, expressing a positive outlook after the company’s investor day.
Additionally, SailPoint announced enhancements to its Identity Security Cloud platform, introducing new capabilities for non-employee risk management and machine identity security. The integration with Microsoft Entra Verified ID aims to streamline the onboarding of contractors and other non-employees using third-party verifiable credentials. These developments reflect SailPoint’s strategic focus on expanding its core offerings and leveraging advances in artificial intelligence.
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