SailPoint (NASDAQ:SAIL – Get Free Report) issued its quarterly earnings results on Tuesday. The company reported $0.05 EPS for the quarter, FiscalAI reports. The company had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.
SailPoint Trading Down 3.0%
SailPoint stock opened at $17.69 on Tuesday. SailPoint has a 12 month low of $10.30 and a 12 month high of $24.95. The stock’s 50 day moving average is $13.60 and its 200-day moving average is $15.98. The company has a market capitalization of $10.03 billion, a price-to-earnings ratio of -31.59 and a beta of 2.00.
Wall Street Analysts Forecast Growth
SAIL has been the topic of a number of recent research reports. Roth Mkm initiated coverage on SailPoint in a research report on Wednesday, May 20th. They issued a “buy” rating and a $19.00 target price on the stock. Robert W. Baird lowered their target price on SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. Mizuho lowered their target price on SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. FBN Securities initiated coverage on SailPoint in a research report on Tuesday, February 24th. They issued an “outperform” rating and a $18.00 target price on the stock. Finally, Truist Financial lowered their target price on SailPoint from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and a consensus price target of $21.29.
Insider Buying and Selling
In related news, CEO Mark D. Mcclain sold 92,874 shares of the business’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 $1,064,336.04. Following the completion of the sale, the chief executive officer directly owned 8,305,324 shares in the company, valued at approximately $95,179,013.04. The trade was a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 business’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 sale, the president owned 2,451,334 shares of the company’s stock, valued at approximately $28,092,287.64. This trade 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. Insiders have sold 534,449 shares of company stock valued at $6,569,848 in the last ninety days. 1.70% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On SailPoint
A number of institutional investors have recently modified their holdings of the business. Norges Bank bought a new position in shares of SailPoint in the 4th quarter valued at $234,681,000. Vanguard Group Inc. lifted its stake in shares of SailPoint by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company’s stock valued at $117,417,000 after acquiring an additional 219,375 shares during the last quarter. UBS Group AG lifted its stake in shares of SailPoint by 116.3% in the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock valued at $91,147,000 after acquiring an additional 2,219,593 shares during the last quarter. GW&K Investment Management LLC lifted its stake in shares of SailPoint by 34.3% in the 3rd quarter. GW&K Investment Management LLC now owns 3,395,602 shares of the company’s stock valued at $74,975,000 after acquiring an additional 866,889 shares during the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of SailPoint by 51.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock valued at $38,339,000 after acquiring an additional 978,376 shares during the last quarter.
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.
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