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Investing.com-- Analysts at BMO Capital Markets and Jefferies upgraded their price target on Sailpoint Inc (NASDAQ:SAIL) after the company reported strong fiscal first-quarter results that topped estimates on all key metrics, including a 30% year-over-year jump in annual recurring revenue (ARR).
BMO analysts raised the firm’s price target to $27 from $26, reiterating an “Outperform” rating, and cited SAIL’s robust growth drivers and continued displacement of legacy identity governance (IGA) players.
SAIL is among the best positioned to benefit from enterprises’ increasing focus on machines and AI agents, BMO said. It noted a strong net new ARR of $48 million, which more than doubled consensus expectations, with equal contributions from new customer logos and expansion within the installed base.
Jefferies analysts also lifted the target to $27 from $24 and maintained a “Buy” rating, noting SAIL bucked the trend seen across cyber this quarter and reinforced the case for identity security spending in an AI-driven landscape.
Jefferies highlighted machine identity traction and potential SaaS migration tailwinds as key contributors to sustained 20% growth over the next three years.
Both brokerages called SAIL’s FY26 ARR guide of $1.1 billion achievable, while emphasizing its insulation from broader macro volatility and Microsoft (NASDAQ:MSFT) competition.