Bank of America Issues Positive Forecast for SailPoint (NASDAQ:SAIL) Stock Price

by · The Markets Daily

SailPoint (NASDAQ:SAIL – Get Free Report) had its target price raised by equities researchers at Bank of America from $19.00 to $22.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s price objective indicates a potential upside of 11.96% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on the stock. Wolfe Research restated an “outperform” rating and issued a $18.00 target price on shares of SailPoint in a report on Wednesday, June 10th. BTIG Research reiterated a “buy” rating and issued a $21.00 price target on shares of SailPoint in a report on Wednesday, September 9th. DA Davidson reissued a “neutral” rating and set a $17.00 price objective on shares of SailPoint in a research note on Thursday, September 10th. Mizuho set a $19.00 target price on SailPoint in a research report on Wednesday, September 9th. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 target price on shares of SailPoint in a report on Wednesday, June 17th. Nineteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.38.

Get Our Latest Stock Report on SAIL

SailPoint Stock Down 2.7%

Shares of SailPoint stock traded down $0.54 during trading on Friday, hitting $19.65. 1,691,884 shares of the company were exchanged, compared to its average volume of 3,679,805. SailPoint has a fifty-two week low of $10.30 and a fifty-two week high of $24.00. The firm has a 50 day moving average price of $17.67 and a 200 day moving average price of $15.20. The stock has a market capitalization of $11.22 billion, a price-to-earnings ratio of -57.82, a P/E/G ratio of 2.24 and a beta of 2.17.

SailPoint (NASDAQ:SAIL – Get Free Report) last posted its quarterly earnings data on Wednesday, September 9th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $308.81 million during the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Analysts predict that SailPoint will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, General Counsel Christopher Schmitt sold 23,940 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total value of $389,982.60. Following the completion of the sale, the general counsel directly owned 1,331,611 shares in the company, valued at approximately $21,691,943.19. The trade was a 1.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, CEO Mark McClain sold 118,194 shares of the stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $1,925,380.26. Following the sale, the chief executive officer directly owned 8,187,130 shares in the company, valued at $133,368,347.70. This trade represents a 1.42% decrease in their ownership of the stock. 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. In the last ninety days, insiders sold 491,559 shares of company stock valued at $7,809,391. 1.70% of the stock is owned by company insiders.

Institutional Trading of SailPoint

Several hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in SailPoint in the 4th quarter valued at about $234,681,000. Wasatch Advisors LP bought a new stake in shares of SailPoint during the 2nd quarter worth about $66,173,000. BlackRock Inc. acquired a new stake in shares of SailPoint in the 2nd quarter worth approximately $65,050,000. Stephens Investment Management Group LLC lifted its stake in shares of SailPoint by 51.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock worth $38,339,000 after acquiring an additional 978,376 shares during the period. Finally, Bank of America Corp DE lifted its stake in shares of 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 acquiring an additional 504,726 shares during the period.

SailPoint Company Profile

(Get Free Report)

SailPoint Technologies, Inc (NASDAQ: SAIL) is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.

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