Morgan Stanley Maintains a Buy on SailPoint (SAIL)

SailPoint, Inc. (NASDAQ:SAIL) is one of the Most Promising New Technology Stocks to Buy According to Hedge Funds. On September 15, Meta Marshall from Morgan Stanley maintained a Buy rating on SailPoint, Inc. (NASDAQ:SAIL) with a price target of $25.

The analyst noted that the company showed strong Q2 results with its total annual recurring revenue reaching $982 million, reflecting a 28% increase year-over-year. The company also delivered strong operating margins of 20%.

Morgan Stanley Maintains a Buy on SailPoint (SAIL)

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Marshall highlighted that although the Q3 guidance is conservative, he sees the potential for annual recurring revenue to pick up again. He noted the company’s Agentic Identity Security and real-time authorization features are expected to attract investor interest.

SailPoint, Inc. (NASDAQ:SAIL) provides identity security solutions for enterprises. It unifies identity data across employees, contractors, machines, and AI agents.

While we acknowledge the potential of SAIL to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SAIL and that has 100x upside potential, check out our report about this cheapest AI stock.

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