Cybersecurity provider Sailpoint Technologies Holdings Inc SAIL began publicly trading in November, and it didn't take long for Wall Street analysts to start coverage of the stock with a bullish stance.
Sailpoint stands out in the cybersecurity space given its "comprehensive approach" to identity governance that consists of compliance controls and data access governance for users, applications and data, the analyst said in a Monday note. (See Owens' track record here.)
Sailpoint is able to to provide critical security visibility by addressing the following, Owens said:
- Who has access to what enterprise resources.
- Who has access to what.
- How granted access is being used.
"As cloud adoption renders hybrid IT the preferred architecture for the foreseeable future, SailPoint's ability to deliver across on-premise, cloud, and mobile environments should increasingly differentiate the offering, in our view," the analyst said.
Looking forward, Sailpoint will likely able to sustain growth given three favorable trends, Owens said:
- A rapid growth of new identities for organizations to secure, govern and manage, connections to the IT environment.
- An exponential outgrowth of unstructured data which consists of high-value enterprise information.
- Compliance regulations that require controls to prevent unauthorized access to sensitive data.
Shares of Sailpoint were trading higher by more than 1 percent ahead of Monday's market open.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.