Royal Bank of Canada Reaffirms “Outperform” Rating for Sailpoint (NYSE:SAIL)

Sailpoint (NYSE:SAIL)‘s stock had its “outperform” rating reiterated by Royal Bank of Canada in a research report issued on Thursday, Marketbeat.com reports. They currently have a $29.00 price target on the stock, up from their previous price target of $27.00. Royal Bank of Canada’s target price would indicate a potential upside of 22.78% from the company’s current price.

Several other equities research analysts have also weighed in on the stock. Jefferies Financial Group dropped their price objective on shares of Sailpoint from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their price target on shares of Sailpoint from $25.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday. The Goldman Sachs Group began coverage on shares of Sailpoint in a research report on Monday, March 10th. They set a “neutral” rating and a $23.00 target price on the stock. Barclays upped their price objective on shares of Sailpoint from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, BTIG Research assumed coverage on shares of Sailpoint in a report on Monday, March 10th. They set a “buy” rating and a $27.00 price objective for the company. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Sailpoint Trading Up 4.5%

Shares of NYSE:SAIL traded up $1.01 on Thursday, reaching $23.62. The company had a trading volume of 1,580,787 shares, compared to its average volume of 1,992,265. Sailpoint has a 52-week low of $15.05 and a 52-week high of $26.35. The business has a 50 day moving average of $18.03.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Caitong International Asset Management Co. Ltd acquired a new position in Sailpoint during the first quarter worth $212,000. Natixis Advisors LLC acquired a new position in Sailpoint during the first quarter worth $835,000. Burkehill Global Management LP purchased a new stake in Sailpoint during the 1st quarter worth about $8,438,000. Assetmark Inc. acquired a new stake in shares of Sailpoint in the first quarter worth approximately $32,000. Finally, Alberta Investment Management Corp acquired a new stake in shares of Sailpoint in the first quarter worth $938,000.

Sailpoint Company Profile

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.