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Why SailPoint Technologies Stock Is Soaring Today

TheMotleyFool

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Why SailPoint Technologies Stock Is Soaring TodayPhoto, wide shot, wide-angle lens, Computer hardware manufacturer, Midday, harsh overhead sunlight, directional sunlightt, photo by Marc Adamus: https://img.theapi.app/temp/ec495607-1e17-40ee-a41d-7726313a9707.png

Shares of SailPoint Technologies Holdings (NYSE: SAIL), which makes identity and access management software, spiked today after the tech stock received an upgrade and a new price target.

SailPoint's stock jumped by as much as 16.7% in this morning's trading and was up 12.1% as of 11:22 a.m. EDT.

Morgan Stanley analyst Hamza Fodderwala upgraded SailPoint's stock from equal weight to overweight today and set a new price target of $50, up from the previous $23.

Source Fool.com

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