BMO Capital Markets Increases Sailpoint (NYSE:SAIL) Price Target to $27.00

Sailpoint (NYSE:SAIL) had its price objective lifted by research analysts at BMO Capital Markets from $26.00 to $27.00 in a research note issued on Thursday, Marketbeat reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 19.84% from the stock’s previous close.

Several other equities research analysts have also issued reports on SAIL. Truist Financial started coverage on shares of Sailpoint in a research note on Monday, March 10th. They issued a “buy” rating and a $29.00 target price on the stock. BTIG Research assumed coverage on Sailpoint in a research note on Monday, March 10th. They set a “buy” rating and a $27.00 target price for the company. Evercore ISI started coverage on Sailpoint in a report on Monday, March 10th. They issued an “outperform” rating and a $29.00 price objective for the company. JPMorgan Chase & Co. assumed coverage on shares of Sailpoint in a report on Monday, March 10th. They issued a “neutral” rating and a $25.00 price target for the company. Finally, Wells Fargo & Company initiated coverage on Sailpoint in a research report on Monday, April 14th. They set an “equal weight” rating and a $16.00 price objective for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $25.90.

Sailpoint Trading Up 14.7%

Shares of SAIL opened at $22.53 on Thursday. Sailpoint has a 1 year low of $15.05 and a 1 year high of $26.35. The firm’s 50 day moving average price is $17.77.

Sailpoint (NYSE:SAIL) last released its earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($4.28). The company had revenue of $240.10 million for the quarter, compared to analysts’ expectations of $229.69 million.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new position in shares of Sailpoint in the 1st quarter worth approximately $94,194,000. Alliancebernstein L.P. purchased a new position in Sailpoint during the first quarter valued at approximately $55,644,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Sailpoint in the first quarter worth $46,875,000. Ameriprise Financial Inc. purchased a new stake in shares of Sailpoint during the 1st quarter worth about $42,585,000. Finally, Stephens Investment Management Group LLC acquired a new stake in Sailpoint in the first quarter valued at approximately $23,213,000.

About Sailpoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.