SailPoint, Inc. (NASDAQ:SAIL) Receives Average Recommendation of “Moderate Buy” from Analysts

SailPoint, Inc. (NASDAQ:SAIL) has received a consensus rating of “Moderate Buy” from the twenty analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, fourteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $21.3526.

A number of analysts have commented on the company. Royal Bank Of Canada decreased their price objective on SailPoint from $23.00 to $19.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Mizuho decreased their price objective on SailPoint from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of SailPoint in a report on Monday, December 29th. Barclays decreased their price objective on SailPoint from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Finally, Wells Fargo & Company decreased their price objective on SailPoint from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, March 19th.

SailPoint Stock Performance

SAIL stock opened at $12.17 on Thursday. The stock’s 50 day simple moving average is $13.60 and its 200 day simple moving average is $17.62. SailPoint has a fifty-two week low of $10.30 and a fifty-two week high of $24.95. The company has a market cap of $6.86 billion, a P/E ratio of -21.73 and a beta of 2.38.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $294.65 million during the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($4.29) earnings per share. Equities analysts predict that SailPoint will post 0.32 earnings per share for the current year.

Insider Activity

In other news, CFO Brian Carolan sold 47,444 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $543,708.24. Following the completion of the transaction, the chief financial officer directly owned 1,786,212 shares of the company’s stock, valued at $20,469,989.52. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Matt Mills sold 34,171 shares of the company’s stock in a transaction that occurred on Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $391,599.66. Following the completion of the transaction, the president directly owned 2,451,334 shares of the company’s stock, valued at approximately $28,092,287.64. This represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 526,962 shares of company stock worth $6,420,108.

Hedge Funds Weigh In On SailPoint

Several institutional investors have recently modified their holdings of SAIL. Royal Bank of Canada bought a new position in shares of SailPoint in the first quarter valued at approximately $1,146,000. Goldman Sachs Group Inc. bought a new position in shares of SailPoint in the first quarter valued at approximately $7,546,000. JPMorgan Chase & Co. bought a new position in shares of SailPoint in the second quarter valued at approximately $692,000. Rhumbline Advisers bought a new position in shares of SailPoint in the second quarter valued at approximately $1,047,000. Finally, New York State Common Retirement Fund bought a new position in shares of SailPoint in the second quarter valued at approximately $572,000.

SailPoint Company Profile

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.