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AUSTIN - SailPoint, Inc. (NASDAQ:SAIL), a $10.85 billion market cap identity security solutions provider with annual revenues of $904 million, announced Wednesday that its Identity Security Cloud and IdentityIQ products have received SAP certification for integration with RISE with SAP S/4HANA Cloud. According to InvestingPro, the company maintains a strong gross profit margin of 63%.
The certification enables organizations to manage and secure access to SAP S/4 applications hosted on SAP RISE, which is SAP’s private cloud for S/4HANA.
According to the company’s press release, the integration allows enterprises to extend SailPoint’s secure access provisioning to SAP systems while leveraging risk analysis and policy-based separation of duties within SAP GRC.
"Helping enterprises secure access to critical, complex and diverse enterprise SAP environments and applications is a top priority for SailPoint," said Chandra Gnanasambandam, EVP of Product and CTO at SailPoint.
The certification comes as many organizations are migrating existing ERP data, processes and capabilities from SAP ECC to S/4HANA. SailPoint’s solutions can help organizations manage access to both SAP and non-SAP applications.
The SAP Integration and Certification Center has verified that SailPoint’s integration is certified for deployment on SAP S/4HANA Private Cloud via the SAP integration scenario Add-On Deployment for RISE.
SailPoint specializes in identity security solutions that help organizations manage and secure access to applications and data across their enterprises. Based on InvestingPro’s analysis, the company currently appears overvalued, with a WEAK overall Financial Health score, suggesting investors should carefully monitor its fundamentals and market position.
In other recent news, SailPoint Technologies Holdings reported strong first-quarter results that exceeded both company guidance and market expectations. The company achieved a 30% year-over-year growth in annual recurring revenue (ARR), with SaaS ARR showing an even more impressive 39% increase. SailPoint’s net ARR additions reached $48 million, marking a 70% year-over-year growth, which significantly surpassed market expectations of approximately $30 million. Operating income and earnings per share were also reported to be substantially above analyst forecasts.
Following these results, several analyst firms adjusted their price targets for SailPoint. Jefferies raised its price target to $27 while maintaining a Buy rating, citing the company’s strong performance. JPMorgan increased its price target to $26, maintaining a Neutral rating, and noted the solid beat and raise in the company’s first real quarter post-IPO. Mizuho also raised its price target to $26, maintaining a Neutral rating, highlighting the ARR growth that exceeded Wall Street expectations. BTIG raised its price target to $29, maintaining a Buy rating, emphasizing the strong ARR growth as a key factor in its decision.
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