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SAIL - SailPoint: Cheap Valuation Makes Up For Sales Issues
SailPoint Technologies Holdings Inc.
It's time to reassess the bullish thesis on SailPoint (SAIL). Immediately after its September 2017 IPO, the identity management software vendor was one of the best-performing IPOs of its cohort, rising by nearly 3x over the next twelve months. Since then, however, growth deceleration kicked in - something that happens, technically, to every fast-growing company, but that investors still don't like to see. In SailPoint's case, the company has been citing some growing pains as well that caused investors to back away in droves. Shares are down more than 20% in the year-to-date,