Royal Bank Of Canada Reiterates Outperform Rating for SailPoint (NASDAQ:SAIL)

SailPoint (NASDAQ:SAIL)‘s stock had its “outperform” rating reaffirmed by investment analysts at Royal Bank Of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $19.00 price target on the stock. Royal Bank Of Canada’s price target suggests a potential upside of 37.84% from the company’s current price.

Several other equities analysts have also recently commented on the stock. FBN Securities started coverage on shares of SailPoint in a research note on Tuesday, February 24th. They set an “outperform” rating and a $18.00 target price for the company. Robert W. Baird cut their target price on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Mizuho set a $16.00 price objective on shares of SailPoint in a report on Wednesday, June 10th. Scotiabank reaffirmed a “sector outperform” rating and set a $19.00 price objective (up from $16.00) on shares of SailPoint in a report on Tuesday, June 9th. Finally, Bank of America reaffirmed a “neutral” rating and set a $16.00 price objective on shares of SailPoint in a report on Friday, June 12th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, three have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and an average price target of $20.08.

SailPoint Price Performance

Shares of NASDAQ SAIL traded down $0.31 during trading hours on Wednesday, hitting $13.78. 1,170,310 shares of the stock were exchanged, compared to its average volume of 3,439,616. The company’s 50 day moving average is $13.82 and its 200 day moving average is $15.82. The firm has a market capitalization of $7.82 billion, a P/E ratio of -51.02, a P/E/G ratio of 2.04 and a beta of 2.02. SailPoint has a one year low of $10.30 and a one year high of $24.95.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $280.14 million during the quarter. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. SailPoint’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Research analysts anticipate that SailPoint will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at SailPoint

In other SailPoint news, insider Abby Payne sold 16,930 shares of the firm’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $194,017.80. Following the completion of the sale, the insider owned 930,506 shares in the company, valued at approximately $10,663,598.76. This trade represents a 1.79% decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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, CAO Mitra Rezvan sold 7,487 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $20.00, for a total transaction of $149,740.00. Following the completion of the sale, the chief accounting officer owned 189,476 shares of the company’s stock, valued at $3,789,520. The trade was a 3.80% 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. In the last ninety days, insiders have sold 534,449 shares of company stock worth $6,569,848. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Aster Capital Management DIFC Ltd bought a new position in SailPoint in the third quarter valued at approximately $31,000. State of Wyoming acquired a new stake in shares of SailPoint in the 2nd quarter valued at about $45,000. Palladiem LLC acquired a new stake in shares of SailPoint in the 4th quarter valued at about $42,000. Kestra Advisory Services LLC acquired a new stake in shares of SailPoint in the 4th quarter valued at about $42,000. Finally, CWM LLC raised its stake in shares of SailPoint by 315.6% in the 4th 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.

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.