SailPoint (NASDAQ:SAIL – Get Free Report) had its price target hoisted by equities research analysts at Bank of America from $19.00 to $22.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective points to a potential upside of 11.96% from the stock’s previous close.
Several other research firms also recently commented on SAIL. BTIG Research reissued a “buy” rating and issued a $21.00 target price on shares of SailPoint in a report on Wednesday, September 9th. Roth Capital reiterated a “buy” rating and issued a $21.00 price target (up from $19.00) on shares of SailPoint in a report on Thursday, September 10th. TD Cowen reiterated a “buy” rating on shares of SailPoint in a research note on Wednesday, September 9th. Scotiabank raised their price objective on SailPoint from $19.00 to $22.00 and gave the company an “outperform” rating in a research report on Thursday, September 10th. Finally, Weiss Ratings raised SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Nineteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.38.
Check Out Our Latest Stock Report on SAIL
SailPoint Stock Performance
SailPoint (NASDAQ:SAIL – Get Free Report) last announced its earnings results on Wednesday, September 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $308.81 million during the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the company posted ($0.02) earnings per share. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Equities analysts forecast that SailPoint will post 0.33 earnings per share for the current fiscal year.
Insider Buying and Selling
In other SailPoint news, CAO Mitra Rezvan sold 3,881 shares of SailPoint stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $59,845.02. Following the transaction, the chief accounting officer owned 182,641 shares in the company, valued at $2,816,324.22. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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, CEO Mark D. Mcclain sold 93,260 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the transaction, the chief executive officer owned 8,093,870 shares of the company’s stock, valued at approximately $124,807,475.40. This trade represents a 1.14% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 491,559 shares of company stock valued at $7,809,391 over the last quarter. 1.70% of the stock is owned by company insiders.
Institutional Trading of SailPoint
A number of institutional investors have recently bought and sold shares of SAIL. Norges Bank purchased a new position in shares of SailPoint during the 4th quarter worth approximately $234,681,000. Wasatch Advisors LP purchased a new stake in shares of SailPoint in the second quarter valued at approximately $66,173,000. BlackRock Inc. acquired a new position in SailPoint during the second quarter worth $65,050,000. Stephens Investment Management Group LLC raised its position in SailPoint by 51.0% in the first quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock worth $38,339,000 after acquiring an additional 978,376 shares in the last quarter. Finally, Bank of America Corp DE raised its position in SailPoint by 40.1% in the first quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock worth $23,367,000 after acquiring an additional 504,726 shares in the last quarter.
About SailPoint
SailPoint Technologies, Inc (NASDAQ: SAIL) is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.
The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.
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