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Fly News Breaks for May 9, 2019
SAIL
May 9, 2019 | 08:59 EDT
BTIG analyst Joel Fishbein lowered his price target on SailPoint to $27, saying that while it beat on Q1 top line, the company lowered its FY19 revenue outlook because of "underdevelopment of the pipeline in the large enterprise." The analyst acknowledges that SailPoint's focus has been diverted to the mid-market recently, but with product retooling, he is confident in the management's forecast for growth to return to high-teens rate. Fishbein keeps Buy rating and recommends that investors buy into the stock price weakness below $20.
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