Sailpoint Inc (NYSE:SAIL) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Sailpoint Inc (NYSE:SAIL) has earned an average rating of “Moderate Buy” from the fifteen research firms that are covering the stock, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.03.

A number of brokerages recently issued reports on SAIL. Jefferies Financial Group lowered their price target on Sailpoint from $26.00 to $24.00 and set a “buy” rating for the company in a report on Monday, March 31st. Bank of America started coverage on shares of Sailpoint in a research report on Monday, March 10th. They issued a “buy” rating and a $27.50 target price on the stock. Morgan Stanley reduced their price target on shares of Sailpoint from $26.00 to $25.00 and set an “equal weight” rating for the company in a research report on Wednesday, April 16th. BMO Capital Markets began coverage on Sailpoint in a report on Monday, March 10th. They set an “outperform” rating and a $26.00 price objective on the stock. Finally, Royal Bank of Canada began coverage on Sailpoint in a research report on Monday, March 10th. They issued an “outperform” rating and a $27.00 target price for the company.

Sailpoint Price Performance

Shares of SAIL stock opened at $19.39 on Thursday. The stock’s fifty day moving average price is $19.11. Sailpoint has a 12 month low of $15.05 and a 12 month high of $26.35.

Sailpoint (NYSE:SAIL) last released its quarterly earnings data on Wednesday, March 26th. The company reported ($4.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($4.28). The firm had revenue of $240.10 million during the quarter, compared to analyst estimates of $229.69 million.

Hedge Funds Weigh In On Sailpoint

Several institutional investors have recently bought and sold shares of the company. GW&K Investment Management LLC acquired a new stake in shares of Sailpoint in the 1st quarter worth $2,173,000. Allianz Asset Management GmbH purchased a new position in Sailpoint during the first quarter worth about $3,496,000. Finally, Stephens Investment Management Group LLC purchased a new position in Sailpoint during the first quarter worth about $23,213,000.

About Sailpoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.