Why SailPoint Technologies Stock Is Soaring Today

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.

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Source Fool.com