SailPoint Technologies Holdings Inc (SAIL) Receives a Rating Update from a Top Analyst


Oppenheimer analyst Shaul Eyal maintained a Buy rating on SailPoint Technologies Holdings Inc (SAIL) today and set a price target of $28. The company’s shares closed yesterday at $27.33.

Eyal commented:

“”It is common truth that any young growth company at a certain stage feels temporary growing pains. Whether it’s the need to find the shining path between growth opportunities and operating expenses or the need to tackle internal sales execution issues.” We used the above in an IMPV 2Q13 note and believe it is applicable to SAIL. Whereas 1Q19 was in line, the lowered guidance is raising concerns about changing market dynamics and demand trends. We believe SAIL has hit an execution bump and the onus of proof is on management to alleviate concerns. The IGA market is still growing >15% and SAIL is seeing both displacement and greenfield opportunities. Taking advantage of the current weakness as AMC valuation suggests trough levels of 5X EV/FY21Rev.”

According to TipRanks.com, Eyal is a top 100 analyst with an average return of 17.0% and a 67.5% success rate. Eyal covers the Technology sector, focusing on stocks such as Verint Systems Inc, CyberArk Software, and Varonis Systems.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for SailPoint Technologies Holdings Inc with a $32.80 average price target.

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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 GAAP net loss of $5.97 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.

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