Rosenblatt Securities reaffirmed their hold rating on shares of Sailpoint Technologies (NYSE:SAIL) in a report published on Thursday morning, AnalystRatings.com reports. The brokerage currently has a $23.00 price objective on the stock.
Other analysts have also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a buy rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. Canaccord Genuity reduced their target price on shares of Sailpoint Technologies from $22.00 to $18.00 and set a hold rating on the stock in a report on Thursday, October 17th. SunTrust Banks started coverage on shares of Sailpoint Technologies in a report on Wednesday, October 2nd. They issued a buy rating and a $25.00 target price on the stock. Zacks Investment Research cut shares of Sailpoint Technologies from a buy rating to a hold rating in a report on Friday, October 4th. Finally, Piper Jaffray Companies set a $27.00 target price on shares of Sailpoint Technologies and gave the company an overweight rating in a report on Wednesday, August 7th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of Buy and an average target price of $27.40.
Shares of SAIL traded down $0.13 during mid-day trading on Thursday, hitting $22.86. 1,112,036 shares of the company’s stock were exchanged, compared to its average volume of 1,289,454. The company has a market cap of $1.79 billion, a price-to-earnings ratio of 142.88 and a beta of 2.01. Sailpoint Technologies has a fifty-two week low of $16.63 and a fifty-two week high of $32.25. The stock’s 50-day moving average is $19.25 and its 200-day moving average is $20.73.
Sailpoint Technologies (NYSE:SAIL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.11. The business had revenue of $75.88 million for the quarter, compared to analysts’ expectations of $70.50 million. Sailpoint Technologies had a negative net margin of 3.39% and a positive return on equity of 1.99%. The business’s quarterly revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. As a group, research analysts predict that Sailpoint Technologies will post -0.09 EPS for the current fiscal year.
In other Sailpoint Technologies news, COO James Cameron Mcmartin sold 60,000 shares of the firm’s stock in a transaction on Monday, October 7th. The stock was sold at an average price of $18.52, for a total value of $1,111,200.00. Also, Director James Michael Pflaging sold 4,000 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $21.78, for a total value of $87,120.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 257,800 shares of company stock worth $5,149,902. 4.10% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. HM Payson & Co. acquired a new position in shares of Sailpoint Technologies during the 2nd quarter worth $25,000. Manchester Financial Inc. acquired a new position in shares of Sailpoint Technologies during the 2nd quarter worth $27,000. Usca Ria LLC acquired a new position in shares of Sailpoint Technologies during the 3rd quarter worth $37,000. Aperio Group LLC acquired a new position in shares of Sailpoint Technologies during the 2nd quarter worth $41,000. Finally, Optimum Investment Advisors raised its stake in shares of Sailpoint Technologies by 17.8% during the 2nd quarter. Optimum Investment Advisors now owns 5,950 shares of the company’s stock worth $119,000 after buying an additional 900 shares during the last quarter. 92.59% of the stock is 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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