Brokerages expect Sailpoint Technologies Holdings Inc (NYSE:SAIL) to announce earnings per share (EPS) of $0.09 for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Sailpoint Technologies’ earnings. The lowest EPS estimate is $0.08 and the highest is $0.10. Sailpoint Technologies posted earnings of $0.17 per share in the same quarter last year, which suggests a negative year over year growth rate of 47.1%. The business is expected to issue its next quarterly earnings report on Wednesday, February 20th.
According to Zacks, analysts expect that Sailpoint Technologies will report full-year earnings of $0.26 per share for the current year, with EPS estimates ranging from $0.25 to $0.26. For the next fiscal year, analysts forecast that the firm will post earnings of $0.21 per share, with EPS estimates ranging from $0.03 to $0.35. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Sailpoint Technologies.
Sailpoint Technologies (NYSE:SAIL) last issued its earnings results on Wednesday, November 7th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.14. The firm had revenue of $66.42 million during the quarter, compared to analysts’ expectations of $55.22 million. Sailpoint Technologies had a positive return on equity of 3.43% and a negative net margin of 2.59%. Sailpoint Technologies’s quarterly revenue was up 52.5% compared to the same quarter last year. During the same period last year, the business earned ($0.02) earnings per share.
SAIL has been the subject of a number of analyst reports. Royal Bank of Canada reissued a “buy” rating and set a $33.00 price objective on shares of Sailpoint Technologies in a report on Friday, August 10th. Zacks Investment Research raised Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, October 4th. Goldman Sachs Group raised Sailpoint Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $32.00 to $33.00 in a report on Monday, November 12th. Morgan Stanley set a $28.00 price objective on Sailpoint Technologies and gave the company a “hold” rating in a report on Friday, October 19th. Finally, Northland Securities initiated coverage on Sailpoint Technologies in a report on Tuesday, September 11th. They set a “market perform” rating and a $34.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Sailpoint Technologies currently has an average rating of “Buy” and a consensus target price of $31.23.
SAIL stock traded down $1.64 during midday trading on Monday, hitting $23.95. The stock had a trading volume of 823,753 shares, compared to its average volume of 848,192. The stock has a market cap of $2.25 billion and a P/E ratio of 598.75. Sailpoint Technologies has a 52 week low of $13.77 and a 52 week high of $34.60.
In related news, Director William G. Bock sold 4,000 shares of Sailpoint Technologies stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $26.19, for a total value of $104,760.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Howard R. Greenfield sold 7,981 shares of Sailpoint Technologies stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $24.42, for a total value of $194,896.02. The disclosure for this sale can be found here. Insiders sold 287,981 shares of company stock valued at $8,539,526 over the last ninety days. 4.70% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd bought a new position in shares of Sailpoint Technologies in the third quarter valued at about $106,000. Cubist Systematic Strategies LLC bought a new position in shares of Sailpoint Technologies in the second quarter valued at about $122,000. Engineers Gate Manager LP bought a new position in shares of Sailpoint Technologies in the third quarter valued at about $201,000. AMP Capital Investors Ltd acquired a new stake in Sailpoint Technologies in the third quarter worth about $213,000. Finally, Radnor Capital Management LLC acquired a new stake in Sailpoint Technologies in the third quarter worth about $242,000. 73.15% of the stock is owned by institutional investors and hedge funds.
About Sailpoint Technologies
SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.
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