Feb 11 (Reuters) - Cybersecurity firm SailPoint said on

Tuesday it is now seeking a valuation of up to $12.57 billion in

its U.S. initial public offering, marking the year's first major

test of investor appetite for tech stocks.

Initial public offerings in the U.S. are poised for a strong

comeback after nearly three years of sluggish activity, with

established companies that have proven revenue, earnings power

and high-profile backers expected to lead the way.

The Austin, Texas-based company and its parent Thoma Bravo

are together selling 50 million shares, priced between $21 and

$23 each to raise as much as $1.15 billion .

Sailpoint's previous proposed range was between $19 and $21

to raise up to $1.05 billion for a target valuation of up to

$11.5 billion.

While an IPO's final pricing is never guaranteed to fall

within a company's targeted range, raising the proposed price

band ahead of the deal's closing is often seen as a sign of

strong investor demand.

Morgan Stanley and Goldman Sachs are the lead underwriters

for the offering.

SailPoint will list on the Nasdaq under the symbol "SAIL".