For the fiscal first quarter ended April 30, SailPoint reported annual recurring revenue (ARR) of $1.163 billion, up 26% from a year earlier. SaaS ARR increased 36% to $781 million.Total revenue rose 22% to $280.1 million, exceeding analysts' estimate of $276.0 million. Subscription revenue increased 23% to $265.8 million.For the second quarter, SailPoint expects ARR of $1.218 billion to $1.222 billion, revenue of $308 million to $312 million, compared with analysts' estimate of $309.9 million, and adjusted earnings of 7 cents to 8 cents per share, versus expectations of 8 cents.For fiscal 2027, SailPoint raised its ARR forecast to $1.364 billion to $1.374 billion from its prior outlook of $1.356 billion to $1.366 billion. The company also increased its revenue forecast to $1.265 billion to $1.275 billion from $1.260 billion to $1.270 billion.SailPoint shares fell 4.1% to trade at $15.02 on Wednesday.These analysts made changes to their price targets on SailPoint following earnings announcement.
Wells Fargo analyst Richard Poland maintained the stock with an Overweight rating and raised the price target from $17 to $19.
Scotiabank analyst Patrick Colville maintained SailPoint with a Sector Outperform and raised the price target from $16 to $19.
