SailPoint (NASDAQ:SAIL) Rating Increased to Strong-Buy at Roth Mkm

SailPoint (NASDAQ:SAIL) was upgraded by investment analysts at Roth Mkm to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

A number of other brokerages have also recently weighed in on SAIL. Barclays reduced their price target on shares of SailPoint from $23.00 to $20.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. TD Cowen cut their target price on SailPoint from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Robert W. Baird reduced their target price on SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Truist Financial decreased their target price on SailPoint from $23.00 to $18.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Finally, BTIG Research dropped their price target on SailPoint from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Three analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.19.

SailPoint Stock Up 0.2%

Shares of SailPoint stock opened at $15.01 on Wednesday. The firm has a market capitalization of $8.51 billion, a P/E ratio of -26.80 and a beta of 1.09. SailPoint has a 52 week low of $10.30 and a 52 week high of $24.95. The firm’s 50 day moving average is $12.66 and its two-hundred day moving average is $16.17.

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

Insider Activity at SailPoint

In other news, CFO Brian Carolan sold 47,444 shares of the company’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 transaction of $543,708.24. Following the completion of the sale, the chief financial officer owned 1,786,212 shares in the company, valued at $20,469,989.52. This represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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, insider Abby Payne sold 16,930 shares of the stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $194,017.80. Following the sale, the insider directly owned 930,506 shares of the company’s stock, valued at approximately $10,663,598.76. This represents a 1.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 sold 526,962 shares of company stock worth $6,420,108 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

Large investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of SailPoint in the 3rd quarter worth $31,000. Palladiem LLC acquired a new position in shares of SailPoint during the fourth quarter worth about $42,000. Kestra Advisory Services LLC acquired a new position in shares of SailPoint during the fourth quarter worth about $42,000. State of Wyoming purchased a new position in SailPoint during the second quarter worth about $45,000. Finally, CWM LLC lifted its position in SailPoint by 315.6% in the fourth quarter. CWM LLC now owns 2,656 shares of the company’s stock valued at $54,000 after purchasing an additional 2,017 shares during the period.

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.