Why SailPoint Technologies Holdings Is Rising Today

After the company reported second-quarter results and slightly raised guidance, shares of SailPoint Technologies Holdings (NYSE: SAIL), a cybersecurity company focused on identity governance solutions, rose 15% as of 1:05 p.m. EST on Wednesday.

The headline numbers from the quarter were solid:

On the call with investors, COO Cam McMartin said that the company made progress during the quarter to improve the quality and quantity of its sales pipeline, which is an issue that plagued the business in the first quarter.

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