In a report released today, Shaul Eyal from Oppenheimer reiterated a Buy rating on SailPoint Technologies Holdings Inc (SAIL), with a price target of $35. The company’s shares closed yesterday at $29.62.
Eyal noted:
“SAIL delivered strong 4Q18 results ($80.6M vs. $71.1M, up 19% y/y) exceeding all of consensus estimates (revenue, EPS, adjusted EBITDA, billings). Additionally, SAIL’s FY19 revenue guidance is better than Street’s estimate supporting healthy spending toward Identity Governance solutions. In that context, we view SAIL’s hybrid infrastructure approach as a major advantage as enterprises continue to migrate work loads to the cloud while investing or modernizing on premise solutions. SAIL’s go to market strategy is further boosted on the heels on new partnerships such as the Ernst & Young one which we favorably view. Competition remains fairly at bay and the OKTA/CYBR relations remains intact as each company has plenty of swimming space in its own lane. We are raising estimates and reiterate our Outperform rating.”
According to TipRanks.com, Eyal is a top 100 analyst with an average return of 15.9% and a 68.4% success rate. Eyal covers the Technology sector, focusing on stocks such as Nuance Communications, Verint Systems Inc, and CyberArk Software.
SailPoint Technologies Holdings Inc has an analyst consensus of Moderate Buy, with a price target consensus of $35.
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Based on SailPoint Technologies Holdings Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $5.1 million. In comparison, last year the company had a net profit of $5.38 million.
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SailPoint Technologies Holdings, Inc. engages in the provision of enterprise identity governance solutions. It operates through the following geographical segments: United States; EMAE or Europe, the Middle East, and Africa; and Rest of the World. It also offers licensing of software, sale of professional services, maintenance, and technical support.
