Zacks Investment Research upgraded shares of Sailpoint Technologies (NYSE:SAIL) from a hold rating to a buy rating in a research note published on Wednesday. The brokerage currently has $29.00 price target on the stock.
According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include Open Identity Platform, Cloud-based Identity Governance, On-premises Identity Governance, Data Access Governance, Identity Analytics, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “
A number of other analysts also recently issued reports on the stock. Royal Bank of Canada reaffirmed a buy rating and set a $33.00 price target on shares of Sailpoint Technologies in a report on Friday, August 10th. Goldman Sachs Group raised shares of Sailpoint Technologies from a neutral rating to a buy rating and raised their price target for the company from $32.00 to $33.00 in a report on Monday, November 12th. Citigroup raised their price target on shares of Sailpoint Technologies from $33.00 to $36.00 and gave the company a buy rating in a report on Thursday, August 9th. Needham & Company LLC raised their price target on shares of Sailpoint Technologies from $29.00 to $30.00 and gave the company a buy rating in a report on Thursday, August 9th. Finally, Canaccord Genuity raised their price target on shares of Sailpoint Technologies from $24.00 to $25.00 and gave the company a hold rating in a report on Thursday, August 9th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average target price of $31.23.
Shares of SAIL stock opened at $23.95 on Wednesday. Sailpoint Technologies has a one year low of $13.77 and a one year high of $34.60. The stock has a market cap of $2.25 billion and a P/E ratio of 598.75.
Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings data on Wednesday, November 7th. The company reported $0.12 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.14. Sailpoint Technologies had a negative net margin of 2.59% and a positive return on equity of 3.43%. The company had revenue of $66.42 million for the quarter, compared to the consensus estimate of $55.22 million. During the same period in the prior year, the firm posted ($0.02) EPS. Sailpoint Technologies’s revenue for the quarter was up 52.5% on a year-over-year basis. As a group, equities analysts predict that Sailpoint Technologies will post 0.04 earnings per share for the current fiscal year.
In related news, CRO Howard R. Greenfield sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, September 21st. The shares were sold at an average price of $32.43, for a total value of $1,621,500.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director William G. Bock sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 15th. The stock was sold at an average price of $26.19, for a total transaction of $104,760.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 287,981 shares of company stock worth $8,539,526. Insiders own 4.70% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd purchased a new position in shares of Sailpoint Technologies in the third quarter worth approximately $106,000. Cubist Systematic Strategies LLC purchased a new position in shares of Sailpoint Technologies in the second quarter worth approximately $122,000. Engineers Gate Manager LP purchased a new position in shares of Sailpoint Technologies in the third quarter worth approximately $201,000. AMP Capital Investors Ltd purchased a new position in shares of Sailpoint Technologies in the third quarter worth approximately $213,000. Finally, California Public Employees Retirement System purchased a new position in shares of Sailpoint Technologies in the second quarter worth approximately $233,000. 73.15% of the stock is currently owned by institutional investors.
Sailpoint Technologies Company Profile
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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