Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!

A Bullish Sell-Side Welcome For SailPoint After November IPO

Courtesy of Benzinga.

A Bullish Sell-Side Welcome For SailPoint After November IPO

Identity management software provider Sailpoint Technologies Holdings Inc (NYSE: SAIL)’s IPO quiet period expired Tuesday, and the sell side initiated coverage of the stock.

Operating in Attractive Markets

Jefferies analyst John DiFucci said SailPoint operates in the attractive identity governance and administration, or IGA, and data access governance markets, with industry analysts estimating about 10 percent growth. But DiFucci estimates double the pace of growth due to greenfield opportunities.

SailPoint is expected to exceed market growth rates for the foreseeable future as a disruptive innovator, the analyst said.

The firm initiated SailPoint shares with a Buy rating and $18 price target.

A Leader In Identity Management Market

Citigroup analyst Walter Pritchard said SailPoint is establishing itself as a leader in the increasingly relevant identity management market. The market has strong secular trends and a clear total addressable market, driving sustainable growth and upside to estimates, Pritchard said. 

Citi sees incremental growth drivers in data governance, analytics and privileged account management. SailPoint is unique to early-stage software vendors, which are experiencing high growth accompanied by strong profitability, the analyst said. 

Citi initiated SailPoint with a Buy rating and $20 price target.

See also: The Risk-Reward In Bluegreen Vacations: BofA Names It A Buy

Bullish Stance Driven By Three Reasons

Oppenheimer analyst Shaul Eyal said his bullish stance on SailPoint is based on three factors:

Identity’s importance for modern-day security portfolios and SailPoint’s robust positioning in the IGA market, which could help capture enterprise market share.

The open identity platform approach of the company, helping customers govern identities in both on-premise and cloud environments.

30 percent revenue growth potential in 2017 and prolonged revenue growth of over 20 percent in the longer term. 

Oppenheimer initiated the stock with an Outperform and $20 price target.

Uniquely Positioned and Poised for Strong Fundamentals

KeyBanc Capital Markets analyst Rob Owens said the software company is uniquely positioned and remains poised for continued strong fundamentals. 

The company’s opportunity is supported by expanding threat vectors and high-value data, Owens said.

Owens initiated coverage of SailPoint with an Overweight and $19 price target.

Price Action

After its debut on Wall Street Nov. 17, Sailpoint Technologies stock netted a gain of roughly 8 percent from its $12 offer price before ending at $13. The stock has consistently traded above the offer price.

Since its debut, SailPoint has gained about 13 percent.

Related Link:

Blue Apron, Yogaworks Race To The Bottom Of 2017′s IPO Heap

Latest Ratings for SAIL

Date Firm Action From To
Dec 2017 Oppenheimer Initiates Coverage On Outperform
Dec 2017 Canaccord Genuity Initiates Coverage On Hold
Dec 2017 Citigroup Initiates Coverage On Buy

View More Analyst Ratings for SAIL


View the Latest Analyst Ratings

Posted-In: Citigroup Jefferies John DiFucci Walter PritchardAnalyst Color Price Target Initiation Analyst Ratings Best of Benzinga


Do you know someone who would benefit from this information? We can send your friend a strictly confidential, one-time email telling them about this information. Your privacy and your friend's privacy is your business... no spam! Click here and tell a friend!





You must be logged in to make a comment.
You can sign up for a membership or get a FREE Daily News membership or log in

Sign up today for an exclusive discount along with our 30-day GUARANTEE — Love us or leave, with your money back! Click here to become a part of our growing community and learn how to stop gambling with your investments. We will teach you to BE THE HOUSE — Not the Gambler!

Click here to see some testimonials from our members!