SailPoint shares rose nearly 10% this week as of Friday morning.
Strong quarterly results from cybersecurity peers Okta and CrowdStrike drove the gains. Both companies reported double-digit revenue and earnings growth. They also beat analyst estimates and raised their full-year guidance.
Investors anticipate rising demand for identity and cybersecurity services across the industry. Okta’s CEO identified growing AI threats as a primary driver for increased security needs.
SailPoint specializes in identity security and will report its own quarterly earnings on September 9.