Brokerages Set SailPoint, Inc. (NASDAQ:SAIL) Target Price at $26.50

SailPoint, Inc. (NASDAQ:SAIL) has been assigned an average recommendation of “Moderate Buy” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $26.50.

SAIL has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of SailPoint from $25.00 to $26.00 and gave the stock a “neutral” rating in a research report on Thursday, June 12th. The Goldman Sachs Group restated a “neutral” rating on shares of SailPoint in a research report on Wednesday, June 11th. Piper Sandler initiated coverage on SailPoint in a research note on Monday, March 10th. They set an “overweight” rating and a $30.00 price target on the stock. Truist Financial initiated 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. Finally, BMO Capital Markets boosted their price target on shares of SailPoint from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Thursday, June 12th.

SailPoint Stock Up 1.8%

Shares of SAIL opened at $23.61 on Friday. The company has a fifty day simple moving average of $19.16. SailPoint has a 52-week low of $15.05 and a 52-week high of $26.35.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $230.47 million during the quarter, compared to analyst estimates of $225.18 million. The business’s revenue was up 22.8% on a year-over-year basis.

Institutional Investors Weigh In On SailPoint

A number of institutional investors have recently made changes to their positions in SAIL. Assetmark Inc. acquired a new stake in SailPoint in the 1st quarter worth about $32,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of SailPoint in the first quarter valued at approximately $49,000. Quarry LP acquired a new stake in SailPoint during the first quarter worth approximately $70,000. Picton Mahoney Asset Management bought a new position in SailPoint during the 1st quarter worth $87,000. Finally, PNC Financial Services Group Inc. acquired a new position in SailPoint in the 1st quarter valued at $150,000.

SailPoint Company Profile

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.