Barclays Reiterates “$23.00” Price Target for Sailpoint (NYSE:SAIL)

Sailpoint (NYSE:SAIL) received a $23.00 price target from investment analysts at Barclays in a report released on Tuesday, Marketbeat reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price points to a potential upside of 21.05% from the stock’s current price.

SAIL has been the subject of a number of other reports. Royal Bank of Canada started coverage on Sailpoint in a research note on Monday, March 10th. They set an “outperform” rating and a $27.00 price objective for the company. BMO Capital Markets began coverage on shares of Sailpoint in a report on Monday, March 10th. They issued an “outperform” rating and a $26.00 price target on the stock. Mizuho cut their price objective on shares of Sailpoint from $25.00 to $24.00 and set a “neutral” rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. began coverage on Sailpoint in a research note on Monday, March 10th. They issued a “neutral” rating and a $25.00 price target for the company. Finally, Morgan Stanley cut their price target on shares of Sailpoint from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $25.70.

Sailpoint Trading Up 5.4%

Shares of SAIL stock traded up $0.98 during trading hours on Tuesday, reaching $19.00. 376,575 shares of the stock were exchanged, compared to its average volume of 1,873,342. Sailpoint has a 12-month low of $15.05 and a 12-month high of $26.35. The stock’s 50-day moving average is $17.64.

Sailpoint (NYSE:SAIL) last posted its earnings results on Wednesday, March 26th. The company reported ($4.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($4.28). The business had revenue of $240.10 million for the quarter, compared to analyst estimates of $229.69 million.

Institutional Trading of Sailpoint

A number of hedge funds have recently bought and sold shares of SAIL. Vanguard Group Inc. purchased a new position in shares of Sailpoint during the 1st quarter worth approximately $94,194,000. Alliancebernstein L.P. acquired a new position in Sailpoint during the first quarter worth $55,644,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Sailpoint during the first quarter worth $46,875,000. Ameriprise Financial Inc. purchased a new position in shares of Sailpoint during the first quarter worth $42,585,000. Finally, Stephens Investment Management Group LLC acquired a new stake in shares of Sailpoint in the first quarter valued at $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.