SailPoint, Inc. (NASDAQ:SAIL) Given Consensus Rating of “Moderate Buy” by Brokerages

SailPoint, Inc. (NASDAQ:SAIL) has been given an average recommendation of “Moderate Buy” by the twenty analysts that are covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, two have given a hold recommendation, fourteen have given a buy recommendation and two have issued a strong buy recommendation on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.3526.

A number of research analysts have recently issued reports on SAIL shares. BTIG Research dropped their target price on SailPoint from $22.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. FBN Securities started coverage on SailPoint in a report on Tuesday, February 24th. They issued an “outperform” rating and a $18.00 target price on the stock. Truist Financial dropped their target price on SailPoint from $23.00 to $18.00 and set a “buy” rating on the stock in a report on Thursday, March 19th. Weiss Ratings reissued a “sell (d-)” rating on shares of SailPoint in a report on Monday, December 29th. Finally, Wells Fargo & Company dropped their target price on SailPoint from $17.00 to $16.00 and set an “overweight” rating on the stock in a report on Thursday, March 19th.

Insiders Place Their Bets

In related news, President Matt Mills sold 34,171 shares of SailPoint 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 sale, the president directly owned 2,451,334 shares in the company, valued at $28,092,287.64. The trade was a 1.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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, EVP Chandrasekar Gnanasambandam sold 20,082 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $230,139.72. Following the transaction, the executive vice president directly owned 968,926 shares in the company, valued at $11,103,891.96. This represents a 2.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Over the last ninety days, insiders sold 526,962 shares of company stock worth $6,420,108. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Janney Montgomery Scott LLC acquired a new position in SailPoint during the first quarter worth $137,000. Maridea Wealth Management LLC grew its holdings in SailPoint by 40.5% during the first quarter. Maridea Wealth Management LLC now owns 126,075 shares of the company’s stock worth $1,669,000 after acquiring an additional 36,310 shares during the period. Blue Trust Inc. grew its holdings in SailPoint by 51.5% during the first quarter. Blue Trust Inc. now owns 21,197 shares of the company’s stock worth $281,000 after acquiring an additional 7,210 shares during the period. Vident Advisory LLC grew its holdings in SailPoint by 6.4% during the fourth quarter. Vident Advisory LLC now owns 55,823 shares of the company’s stock worth $1,129,000 after acquiring an additional 3,370 shares during the period. Finally, one8zero8 LLC grew its holdings in SailPoint by 2.0% during the fourth quarter. one8zero8 LLC now owns 105,550 shares of the company’s stock worth $2,135,000 after acquiring an additional 2,050 shares during the period.

SailPoint Trading Up 1.0%

NASDAQ:SAIL opened at $12.28 on Thursday. The firm has a market cap of $6.92 billion, a P/E ratio of -21.93 and a beta of 2.38. The stock’s 50 day simple moving average is $13.48 and its 200-day simple moving average is $17.51. SailPoint has a 12-month low of $10.30 and a 12-month high of $24.95.

SailPoint (NASDAQ:SAIL) last released its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.08. The business 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%.The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($4.29) EPS. Research analysts forecast that SailPoint will post 0.32 EPS for the current fiscal year.

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.