Analysts Anticipate Sailpoint Technologies Holdings Inc (SAIL) Will Post Earnings of $0.10 Per Share

Brokerages expect Sailpoint Technologies Holdings Inc (NYSE:SAIL) to post earnings per share of $0.10 for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Sailpoint Technologies’ earnings, with the highest EPS estimate coming in at $0.10 and the lowest estimate coming in at $0.08. Sailpoint Technologies posted earnings per share of $0.17 during the same quarter last year, which would suggest a negative year-over-year growth rate of 41.2%. The business is scheduled to report its next earnings results on Wednesday, February 20th.

According to Zacks, analysts expect that Sailpoint Technologies will report full-year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.26. For the next year, analysts anticipate that the company will report earnings of $0.18 per share, with EPS estimates ranging from $0.08 to $0.27. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover Sailpoint Technologies.

Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.14. Sailpoint Technologies had a positive return on equity of 3.45% and a negative net margin of 2.59%. The company had revenue of $66.42 million during the quarter, compared to the consensus estimate of $55.22 million. During the same period in the prior year, the company earned ($0.02) earnings per share. The company’s revenue for the quarter was up 52.5% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. KeyCorp increased their price target on Sailpoint Technologies from $28.00 to $32.00 and gave the stock an “overweight” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Thursday, October 4th. Citigroup increased their price objective on Sailpoint Technologies from $33.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 9th. Goldman Sachs Group started coverage on Sailpoint Technologies in a report on Tuesday, August 21st. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Morgan Stanley set a $28.00 price objective on Sailpoint Technologies and gave the stock a “hold” rating in a report on Friday, October 19th. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $31.69.

In related news, major shareholder Thoma Bravo, Llc sold 15,812,500 shares of the stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $27.26, for a total transaction of $431,048,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William G. Bock sold 8,000 shares of the stock in a transaction that occurred on Wednesday, August 22nd. The shares were sold at an average price of $29.44, for a total value of $235,520.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,331,500 shares of company stock valued at $446,379,400. 4.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Harvest Fund Management Co. Ltd acquired a new position in Sailpoint Technologies during the third quarter valued at approximately $106,000. Cubist Systematic Strategies LLC acquired a new position in Sailpoint Technologies during the second quarter valued at approximately $122,000. Engineers Gate Manager LP acquired a new position in Sailpoint Technologies during the third quarter valued at approximately $201,000. Radnor Capital Management LLC acquired a new position in Sailpoint Technologies during the third quarter valued at approximately $242,000. Finally, State Board of Administration of Florida Retirement System acquired a new position in Sailpoint Technologies during the third quarter valued at approximately $273,000. 51.77% of the stock is owned by hedge funds and other institutional investors.

Shares of Sailpoint Technologies stock traded down $0.77 during trading hours on Friday, hitting $25.45. The company’s stock had a trading volume of 796,442 shares, compared to its average volume of 1,141,616. Sailpoint Technologies has a 12 month low of $12.82 and a 12 month high of $34.60. The company has a market capitalization of $2.38 billion and a P/E ratio of 636.25. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.47 and a quick ratio of 1.47.

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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