Research analysts at Northland Securities began coverage on shares of Sailpoint Technologies (NYSE:SAIL) in a research report issued on Tuesday, The Fly reports. The firm set a “market perform” rating on the stock.
Several other brokerages have also weighed in on SAIL. Zacks Investment Research upgraded shares of Sailpoint Technologies from a “sell” rating to a “hold” rating in a research report on Wednesday, July 11th. Canaccord Genuity upped their target price on shares of Sailpoint Technologies from $24.00 to $25.00 and gave the stock a “hold” rating in a research report on Thursday, August 9th. Royal Bank of Canada restated a “buy” rating and set a $33.00 target price on shares of Sailpoint Technologies in a research report on Friday, August 10th. Oppenheimer upped their target price on shares of Sailpoint Technologies from $28.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, August 9th. Finally, BTIG Research started coverage on shares of Sailpoint Technologies in a report on Wednesday, May 30th. They issued a “buy” rating and a $30.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $29.67.
SAIL traded up $0.83 on Tuesday, hitting $33.17. 4,270 shares of the company were exchanged, compared to its average volume of 1,731,959. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.03. Sailpoint Technologies has a fifty-two week low of $12.82 and a fifty-two week high of $32.40. The firm has a market capitalization of $2.77 billion and a P/E ratio of 824.75.
Sailpoint Technologies (NYSE:SAIL) last issued its earnings results on Wednesday, August 8th. The company reported $0.03 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.05. The company had revenue of $54.60 million for the quarter, compared to analyst estimates of $50.02 million. The business’s quarterly revenue was up 38.9% compared to the same quarter last year. analysts predict that Sailpoint Technologies will post -0.08 EPS for the current year.
In related news, CRO Howard R. Greenfield sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 21st. The shares were sold at an average price of $29.15, for a total transaction of $2,915,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Howard R. Greenfield sold 50,000 shares of the company’s stock in a transaction that occurred on Thursday, June 21st. The shares were sold at an average price of $26.49, for a total transaction of $1,324,500.00. The disclosure for this sale can be found here. Insiders sold 16,454,706 shares of company stock worth $449,026,469 in the last ninety days.
Several institutional investors and hedge funds have recently made changes to their positions in SAIL. Whale Rock Capital Management LLC purchased a new position in shares of Sailpoint Technologies during the second quarter valued at approximately $39,530,000. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of Sailpoint Technologies during the fourth quarter valued at approximately $22,033,000. BlackRock Inc. lifted its stake in shares of Sailpoint Technologies by 247.2% during the first quarter. BlackRock Inc. now owns 2,074,362 shares of the company’s stock valued at $42,920,000 after buying an additional 1,476,871 shares during the period. Cortina Asset Management LLC purchased a new position in shares of Sailpoint Technologies during the fourth quarter valued at approximately $20,497,000. Finally, Thrivent Financial For Lutherans purchased a new position in shares of Sailpoint Technologies during the fourth quarter valued at approximately $20,272,000. 50.62% of the stock is currently owned by institutional investors and hedge funds.
About Sailpoint Technologies
SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.
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