Analysts Set SailPoint, Inc. (NASDAQ:SAIL) Target Price at $21.79
by Michael Walen · The Markets DailySailPoint, Inc. (NASDAQ:SAIL – Get Free Report) has earned an average rating of “Moderate Buy” from the twenty-one analysts that are currently covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $21.4850.
Several research firms have recently commented on SAIL. Wells Fargo & Company decreased their price objective on SailPoint from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. The Goldman Sachs Group cut their price objective on SailPoint from $21.00 to $18.00 and set a “neutral” rating for the company in a research note on Thursday, March 19th. Mizuho reduced their target price on shares of SailPoint from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th. Robert W. Baird decreased their target price on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of SailPoint in a report on Monday, March 23rd.
Read Our Latest Research Report on SAIL
Insider Activity
In other SailPoint news, CAO Mitra Rezvan sold 3,782 shares of the firm’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $19.57, for a total transaction of $74,013.74. Following the sale, the chief accounting officer directly owned 119,109 shares of the company’s stock, valued at $2,330,963.13. This trade represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian Carolan sold 30,638 shares of the company’s stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $19.57, for a total value of $599,585.66. Following the completion of the transaction, the chief financial officer directly owned 1,277,795 shares of the company’s stock, valued at approximately $25,006,448.15. This trade represents a 2.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 354,243 shares of company stock worth $6,924,823. 2.00% of the stock is currently owned by insiders.
Institutional Trading of SailPoint
Several institutional investors and hedge funds have recently added to or reduced their stakes in SAIL. Vanguard Group Inc. lifted its stake in SailPoint by 4.3% in the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company’s stock worth $117,417,000 after purchasing an additional 219,375 shares in the last quarter. Stephens Investment Management Group LLC grew its position in shares of SailPoint by 10.9% during the third quarter. Stephens Investment Management Group LLC now owns 1,679,495 shares of the company’s stock valued at $37,083,000 after purchasing an additional 165,741 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its position in shares of 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 in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of SailPoint in the third quarter worth about $26,365,000. Finally, OFI Invest Asset Management bought a new stake in shares of SailPoint in the third quarter worth about $11,133,000.
SailPoint Price Performance
Shares of SAIL stock opened at $11.77 on Friday. The company has a market cap of $6.64 billion and a price-to-earnings ratio of -21.02. SailPoint has a 1 year low of $11.52 and a 1 year high of $24.95. The firm has a fifty day moving average price of $14.96 and a 200-day moving average price of $18.75.
SailPoint (NASDAQ:SAIL – Get Free Report) last announced its earnings results on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The company had revenue of $294.65 million for the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.SailPoint’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($4.29) earnings per share.
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.