10 Best Cybersecurity Stocks to Buy Under $50

7. SailPoint, Inc. (NASDAQ:SAIL)

Stock Price as of December 3: $19.84

Stock Upside Potential: 44.40%

Number of Hedge Fund Holders: 25

SailPoint, Inc. (NASDAQ:SAIL) is one of the best cybersecurity stocks to buy under $50. SailPoint, Inc. (NASDAQ:SAIL) holds a strong Buy rating according to 19 Wall Street analysts. The stock commands 16 buy and three hold ratings, with an average price target of $26.57, implying 44.40% upside from current levels of $19.84 a share.

On November 18, analysts at TD Cowen reiterated a Buy rating on the stock and a $30 price target, as they remain optimistic that the company will deliver solid third-quarter results. The company is expected to provide net new annual recurring revenue of $49 million, representing 6% year-over-year growth. According to the research firm, the increase will be driven by healthy demand for vendors offering comprehensive identity governance solutions.

Likewise, TD Cowen is banking on the successful misuse of AI models to accelerate cyberattacks at scale, presenting opportunities for Sailpoint to capitalize on with its solutions.

Similarly, analysts at Berenberg have echoed these sentiments, reiterating that Sailpoint is a Buy with a $31.70 price target. According to the research firm, the company is at the intersection of security and identity. Likewise, it expects to benefit from rising identity theft incidents and the accelerating adoption of zero-trust security frameworks.

SailPoint, Inc. (NASDAQ:SAIL) provides identity security solutions that manage and secure access to corporate networks and data. It uses AI and machine learning to automate processes like granting appropriate access to the right users and machine identities at the right time.