Market Overview

Piper Jaffray: Sailpoint Technologies Poised To Benefit From Regulation, Unstructured Data Growth

Share:
Piper Jaffray: Sailpoint Technologies Poised To Benefit From Regulation, Unstructured Data Growth
Related
Goldman Positive On Sailpoint's Technology And Roadmap, But Sees Valuation As A Deterrent
Benzinga's Top Upgrades, Downgrades For August 21, 2018
Related ORCL
Q3 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolio
Tesla Criminal Probe Reportedly Intensifies As FBI Reviews Model 3 Production Numbers
Oracle acquires SD-WAN company (Seeking Alpha)

SailPoint Technologies Holdings Inc (NYSE: SAIL) is well-positioned to benefit from new regulations and the growth of unstructured data, according to an initiation report from PiperJaffray. 

The Analyst

Analyst Andrew Nowinski initiated coverage on Sailpoint Technologies with an Overweight rating and $28 price target.

The Thesis 

Identity and access management is one of the top spending priorities within security and is driven by the move to the cloud, the growth of unstructured data and new regulations like GDPR, Nowinski said in a Wednesday note. 

“Enterprises are digitizing an increasing number of business activities, leading to significant growth in unstructured data,” the analyst said. 

Unstructured data accounts for 79.2 percent of total enterprise data and is growing 42 percent annually, according to  Oracle Corporation (NYSE: ORCL) and IDC.

“With more data residing outside the corporate network, we believe enterprises will need to increase spending on an identity governance solution in order to provide secure access to this data that resides outside the corporate network,” Nowinski said.

This bodes well for Sailpoint Technologies, particularly due to increased spending on IAM tools to help firms remain GDPR-compliant, the analyst said. Sailpoint is seen as the “brain and highest value component of a broader IAM defense platform," he said. 

Price Action

Sailpoint Technologies shares traded nearly flat on Wednesday, closing at $25.05.

Related Links:

US Media Companies Forfeit Readers Rather Than Adjust To Europe's GDPR

How The GDPR's Data Portability Rules Could Affect Client Churn

Latest Ratings for SAIL

DateFirmActionFromTo
Nov 2018Goldman SachsUpgradesNeutralBuy
Sep 2018Northland SecuritiesInitiates Coverage OnMarket Perform
Aug 2018Goldman SachsInitiates Coverage OnNeutral

View More Analyst Ratings for SAIL
View the Latest Analyst Ratings

Posted-In: Andrew Nowinski GDPR PiperJaffrayAnalyst Color News Price Target Initiation Analyst Ratings Best of Benzinga

 

Related Articles (ORCL + SAIL)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
LXFTKeyBancDowngrades0.0
CPAImperial CapitalDowngrades68.0
PRMWImperial CapitalInitiates Coverage On18.0
TGTKeyBancInitiates Coverage On110.0
QCOMMorgan StanleyUpgrades0.0
View the Latest Analytics Ratings
Don't Miss Out!
Join Our Newsletter
Subscribe to:
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
Your weekly roundup of hot topics in the exciting world of fintech.
Thank You
for registering for Benzinga’s newsletters and alerts.
• The Daily Analysts Ratings email will be received daily between 7am and 10am.
• The Market in 5 Minutes email will be received daily between 7am and 8am.
• The Fintech Focus email will be received every Friday between 2pm and 5pm.

Today In Cryptocurrency: '51 Percent Attacks' On The Rise, Hospital Offers Crypto Trading Addiction Treatment

7 Stocks Moving In Wednesday's After-Hours Session