SailPoint (NASDAQ:SAIL) Trading Up 9.5% – Should You Buy?

SailPoint, Inc. (NASDAQ:SAIL)’s stock price shot up 9.5% during trading on Tuesday . The company traded as high as $15.28 and last traded at $15.3380. Approximately 1,306,345 shares were traded during trading, a decline of 64% from the average daily volume of 3,636,821 shares. The stock had previously closed at $14.01.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Wolfe Research reaffirmed an “outperform” rating and issued a $18.00 price objective on shares of SailPoint in a research note on Wednesday, June 10th. Scotiabank reissued a “sector outperform” rating and set a $19.00 target price (up from $16.00) on shares of SailPoint in a research note on Tuesday, June 9th. JPMorgan Chase & Co. dropped their price target on SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SailPoint in a report on Wednesday, June 17th. Finally, Jefferies Financial Group cut shares of SailPoint from a “buy” rating to a “buy” rating in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $20.08.

SailPoint Price Performance

The stock has a 50-day moving average price of $14.70 and a two-hundred day moving average price of $15.00. The stock has a market cap of $8.67 billion, a PE ratio of -56.78, a price-to-earnings-growth ratio of 1.53 and a beta of 2.20.

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

Insider Buying and Selling at SailPoint

In other news, insider Abby Payne sold 16,999 shares of the stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $262,124.58. Following the completion of the transaction, the insider directly owned 891,965 shares in the company, valued at approximately $13,754,100.30. This represents a 1.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 19,540 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $301,306.80. Following the completion of the transaction, the executive vice president directly owned 934,508 shares of the company’s stock, valued at approximately $14,410,113.36. This trade represents a 2.05% 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. Over the last ninety days, insiders sold 497,832 shares of company stock worth $7,934,851. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

Several institutional investors have recently bought and sold shares of the business. FNY Investment Advisers LLC grew its stake in shares of SailPoint by 12.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock worth $122,000 after buying an additional 900 shares in the last quarter. Cerity Partners LLC raised its position in shares of SailPoint by 0.8% during the 4th quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock valued at $2,339,000 after buying an additional 923 shares in the last quarter. Main Management ETF Advisors LLC lifted its holdings in shares of SailPoint by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock valued at $2,075,000 after acquiring an additional 1,048 shares during the last quarter. Federation des caisses Desjardins du Quebec grew its position in SailPoint by 24.1% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,871 shares of the company’s stock worth $159,000 after acquiring an additional 1,528 shares in the last quarter. Finally, State of Wyoming purchased a new position in SailPoint in the second quarter worth about $45,000.

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.