BMO Capital Maintains Outperform Rating on SailPoint (SAIL) With Strong Pipeline Outlook

SailPoint, Inc. (NASDAQ:SAIL) ranks among the best stocks under $25 to buy now. In response to SailPoint, Inc. (NASDAQ:SAIL)’s latest quarterly reports, BMO Capital reaffirmed its Outperform rating and $25 price target on the company’s shares on December 11. Although the October quarter’s Annual Recurring Revenue (ARR) beat ended up less than that of the preceding two quarters, the firm indicated that SailPoint, Inc. (NASDAQ:SAIL) reported improvements across all measures.

The company’s SaaS ARR increased by 38% year-over-year to $669 million, accounting for 64% of overall ARR. Despite the solid overall performance, the quarter saw only a 1% increase in ARR. Moreover, the company recorded a net revenue retention (NRR) percentage of 114%, showing significant customer growth and retention.

BMO Capital presumes that management’s January quarter net new ARR guidance could boost the company’s shares in the near term. The firm added that SailPoint’s pipeline remains strong, owing to continuing conversions and new product cross-selling opportunities.

​SailPoint, Inc. (NASDAQ:SAIL) provides enterprise identity security solutions by unifying identity data across employees, contractors, machines, and AI agents. The company’s products includes identity security cloud, atlas, connectivity and integrations, and identityIQ software platforms.

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Disclosure: None. This article is originally published at Insider Monkey.