Oppenheimer analyst Shaul Eyal has started coverage of SailPoint Technologies Holdings Inc. with an "outperform" rating, writing that the company is poised for revenue growth as it expands its share of the identity governance and administration market.
He wrote that the company's technology is "competitively advantageous" compared to other solutions, noting that its open identity platform approach allows customers to manage identities in both on-premise and cloud environments. With more clients, SailPoint could grow its revenue by more than 30% in 2017 and sustain more than 20% growth over the longer term, Eyal wrote.
Eyal's price target for SailPoint is $20. His EPS estimates are 6 cents for 2017, 5 cents for 2018 and 11 cents for 2019.
