Barclays Cuts SailPoint (NASDAQ:SAIL) Price Target to $23.00

SailPoint (NASDAQ:SAIL) had its price target reduced by Barclays from $25.00 to $23.00 in a research report report published on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

SAIL has been the subject of several other research reports. JPMorgan Chase & Co. upgraded SailPoint from a “neutral” rating to an “overweight” rating and set a $26.00 price objective for the company in a research note on Wednesday, August 13th. Weiss Ratings reiterated a “sell (d)” rating on shares of SailPoint in a research note on Monday, December 1st. Wolfe Research assumed coverage on shares of SailPoint in a report on Monday, October 20th. They set an “outperform” rating and a $27.00 price target for the company. Stephens upgraded shares of SailPoint to a “strong-buy” rating in a report on Tuesday, August 12th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of SailPoint in a research report on Wednesday. Three equities research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, three have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $26.24.

SailPoint Stock Up 2.0%

Shares of SAIL opened at $20.24 on Thursday. The company has a market cap of $11.27 billion and a P/E ratio of -4.81. SailPoint has a fifty-two week low of $15.05 and a fifty-two week high of $26.35. The firm’s 50 day moving average price is $20.84 and its 200 day moving average price is $20.79.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $264.36 million for the quarter, compared to analysts’ expectations of $243.41 million. The firm’s quarterly revenue was up 32.9% compared to the same quarter last year. SailPoint has set its FY 2026 guidance at 0.200-0.220 EPS and its Q3 2026 guidance at 0.050-0.06 EPS.

Insiders Place Their Bets

In other news, General Counsel Christopher Schmitt sold 34,186 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The shares were sold at an average price of $22.42, for a total transaction of $766,450.12. Following the transaction, the general counsel directly owned 1,069,864 shares in the company, valued at approximately $23,986,350.88. This trade represents a 3.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian Carolan sold 84,699 shares of the company’s stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $22.42, for a total transaction of $1,898,951.58. Following the completion of the sale, the chief financial officer owned 1,336,628 shares of the company’s stock, valued at approximately $29,967,199.76. This trade represents a 5.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 1,026,454 shares of company stock valued at $23,056,195. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd purchased a new position in SailPoint in the 3rd quarter valued at $31,000. Loomis Sayles & Co. L P acquired a new stake in shares of SailPoint in the 2nd quarter worth $42,000. State of Wyoming purchased a new stake in shares of SailPoint in the second quarter valued at about $45,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of SailPoint in the first quarter valued at about $49,000. Finally, Quarry LP acquired a new position in shares of SailPoint during the first quarter worth about $70,000.

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.