SailPoint, Inc. (NASDAQ:SAIL) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of SailPoint, Inc. (NASDAQ:SAIL) have received a consensus recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have issued a buy rating and three have assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $21.2850.

Several brokerages have recently commented on SAIL. Truist Financial cut their price objective on SailPoint from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Royal Bank Of Canada set a $17.00 target price on SailPoint in a research report on Friday, May 15th. The Goldman Sachs Group dropped their target price on SailPoint from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Robert W. Baird dropped their target price on SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Thursday, March 19th. Finally, Roth Mkm began coverage on SailPoint in a research report on Wednesday, May 20th. They issued a “buy” rating and a $19.00 target price for the company.

Insider Buying and Selling

In related news, General Counsel Christopher Schmitt sold 18,813 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $215,596.98. Following the completion of the sale, the general counsel owned 1,355,551 shares in the company, valued at $15,534,614.46. The trade was a 1.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, President Matt Mills sold 34,171 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $391,599.66. Following the completion of the sale, the president owned 2,451,334 shares of the company’s stock, valued at $28,092,287.64. The trade was a 1.37% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 534,449 shares of company stock worth $6,569,848 over the last ninety days. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of SailPoint

A number of hedge funds have recently bought and sold shares of the company. Bank of America Corp DE lifted its position in SailPoint by 40.1% in the 1st quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock worth $23,367,000 after buying an additional 504,726 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in SailPoint by 178.4% in the first quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock valued at $1,397,000 after purchasing an additional 67,601 shares during the last quarter. Quantinno Capital Management LP lifted its position in SailPoint by 531.8% in the first quarter. Quantinno Capital Management LP now owns 251,770 shares of the company’s stock valued at $3,333,000 after purchasing an additional 211,922 shares during the last quarter. Renaissance Technologies LLC bought a new stake in SailPoint in the first quarter valued at approximately $5,214,000. Finally, NewEdge Wealth LLC bought a new stake in SailPoint in the first quarter valued at approximately $1,508,000.

SailPoint Trading Up 1.3%

Shares of NASDAQ SAIL opened at $18.61 on Friday. SailPoint has a 12 month low of $10.30 and a 12 month high of $24.95. The firm has a market capitalization of $10.56 billion, a price-to-earnings ratio of -33.23 and a beta of 2.02. The business has a 50-day moving average of $13.37 and a 200-day moving average of $15.99.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The company had revenue of $294.65 million during the quarter. During the same period in the previous year, the firm posted ($4.29) EPS. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, analysts predict that SailPoint will post 0.32 earnings per share for the current year.

SailPoint Company Profile

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.