Wells Fargo & Company Begins Coverage on SailPoint (NASDAQ:SAIL)

Research analysts at Wells Fargo & Company assumed coverage on shares of SailPoint (NASDAQ:SAIL) in a research report issued on Tuesday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $17.00 price target on the stock. Wells Fargo & Company‘s price objective would indicate a potential upside of 22.13% from the company’s previous close.

A number of other analysts have also issued reports on the stock. Barclays cut their price target on shares of SailPoint from $25.00 to $23.00 and set an “overweight” rating on the stock in a research note on Thursday, December 4th. FBN Securities initiated coverage on shares of SailPoint in a report on Tuesday, February 24th. They set an “outperform” rating and a $18.00 target price on the stock. BMO Capital Markets reissued an “outperform” rating on shares of SailPoint in a research report on Thursday, December 11th. BTIG Research cut their price objective on SailPoint from $29.00 to $22.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Mizuho decreased their target price on SailPoint from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Four investment analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $24.27.

SailPoint Stock Performance

SAIL stock opened at $13.92 on Tuesday. The firm has a market cap of $7.82 billion and a PE ratio of -2.91. SailPoint has a one year low of $12.81 and a one year high of $24.95. The firm’s 50 day moving average price is $16.98 and its 200-day moving average price is $19.55.

SailPoint (NASDAQ:SAIL) last posted its earnings results on Tuesday, December 9th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. SailPoint had a negative net margin of 30.87% and a positive return on equity of 0.16%. The firm had revenue of $281.94 million during the quarter, compared to the consensus estimate of $270.35 million. The company’s revenue for the quarter was up 19.8% compared to the same quarter last year. SailPoint has set its FY 2026 guidance at 0.220-0.230 EPS and its Q4 2026 guidance at 0.080-0.09 EPS.

Insider Activity at SailPoint

In other news, CFO Brian Carolan sold 30,638 shares of SailPoint stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $19.57, for a total transaction of $599,585.66. Following the sale, the chief financial officer owned 1,277,795 shares in the company, valued at approximately $25,006,448.15. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark D. Mcclain sold 61,106 shares of the company’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total value of $1,175,068.38. Following the completion of the sale, the chief executive officer directly owned 7,139,202 shares of the company’s stock, valued at approximately $137,286,854.46. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 354,243 shares of company stock worth $6,924,823. Insiders own 2.00% of the company’s stock.

Institutional Trading of SailPoint

Several hedge funds have recently made changes to their positions in the company. Stephens Investment Management Group LLC boosted its stake in shares of SailPoint by 10.9% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,679,495 shares of the company’s stock valued at $37,083,000 after buying an additional 165,741 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of SailPoint by 3,022.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 481,908 shares of the company’s stock worth $11,016,000 after acquiring an additional 466,474 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in SailPoint by 86.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,021 shares of the company’s stock valued at $3,688,000 after purchasing an additional 77,237 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in SailPoint in the 3rd quarter valued at $26,365,000. Finally, OFI Invest Asset Management acquired a new stake in shares of SailPoint in the third quarter valued at about $11,133,000.

About SailPoint

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.