Wall Street analysts forecast that Sailpoint Technologies Holdings Inc (NYSE:SAIL) will post sales of $60.26 million for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for Sailpoint Technologies’ earnings, with the lowest sales estimate coming in at $59.30 million and the highest estimate coming in at $61.00 million. Sailpoint Technologies posted sales of $49.71 million during the same quarter last year, which suggests a positive year over year growth rate of 21.2%. The business is expected to announce its next earnings report on Wednesday, May 8th.
According to Zacks, analysts expect that Sailpoint Technologies will report full year sales of $295.88 million for the current financial year, with estimates ranging from $295.30 million to $296.20 million. For the next financial year, analysts anticipate that the business will report sales of $349.54 million, with estimates ranging from $344.30 million to $356.55 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Sailpoint Technologies.
Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.14 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.11. The firm had revenue of $80.59 million for the quarter, compared to analyst estimates of $71.01 million. Sailpoint Technologies had a positive return on equity of 4.14% and a negative net margin of 1.27%.
SAIL has been the topic of several analyst reports. Monness Crespi & Hardt reissued a “buy” rating and set a $37.00 target price (up from $30.00) on shares of Sailpoint Technologies in a report on Wednesday, February 20th. Zacks Investment Research raised Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a research note on Thursday, March 7th. Northland Securities reaffirmed a “hold” rating and set a $30.00 price objective on shares of Sailpoint Technologies in a research report on Wednesday, March 6th. Finally, Piper Jaffray Companies reiterated an “overweight” rating and set a $35.00 price objective on shares of Sailpoint Technologies in a research note on Wednesday, March 6th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Sailpoint Technologies currently has a consensus rating of “Buy” and a consensus price target of $32.14.
Shares of NYSE:SAIL traded up $0.22 during trading on Friday, reaching $27.87. 767,440 shares of the company traded hands, compared to its average volume of 1,035,602. The company has a market cap of $2.45 billion, a price-to-earnings ratio of 174.19, a PEG ratio of 55.30 and a beta of 1.69. Sailpoint Technologies has a 52 week low of $20.20 and a 52 week high of $34.60.
In other news, CEO Mark D. Mcclain sold 33,000 shares of the stock in a transaction dated Tuesday, January 15th. The shares were sold at an average price of $25.88, for a total value of $854,040.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Howard R. Greenfield sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $30.01, for a total transaction of $750,250.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 239,490 shares of company stock worth $6,969,072. Corporate insiders own 4.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in SAIL. JPMorgan Chase & Co. lifted its stake in Sailpoint Technologies by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,960,015 shares of the company’s stock valued at $236,780,000 after purchasing an additional 935,714 shares during the last quarter. Vanguard Group Inc boosted its position in Sailpoint Technologies by 42.6% in the third quarter. Vanguard Group Inc now owns 5,953,503 shares of the company’s stock valued at $202,538,000 after buying an additional 1,778,907 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Sailpoint Technologies by 42.6% during the third quarter. Vanguard Group Inc. now owns 5,953,503 shares of the company’s stock worth $202,538,000 after buying an additional 1,778,907 shares during the last quarter. BlackRock Inc. grew its stake in shares of Sailpoint Technologies by 14.2% during the fourth quarter. BlackRock Inc. now owns 5,674,590 shares of the company’s stock worth $133,296,000 after buying an additional 705,830 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Sailpoint Technologies by 19.3% during the third quarter. FMR LLC now owns 2,278,731 shares of the company’s stock worth $77,521,000 after buying an additional 368,231 shares in the last quarter. Institutional investors and hedge funds own 81.31% of the company’s stock.
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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