SailPoint Shares Rise 3.6% Following Morgan Stanley Upgrade to $25 Price Target

SailPoint Technologies' shares surged 3.6% in premarket trading after Morgan Stanley upgraded the company, citing its leadership in the identity governance market and sustained growth prospects. Morgan Stanley set its price target for SailPoint at $25, highlighting the firm's confidence in the company's strategic direction and growth drivers. SailPoint's transition to a SaaS model and expanding machine identity portfolio are key factors driving its competitive edge and investor interest.