SailPoint (NASDAQ:SAIL) Shares Gap Up – Time to Buy?

SailPoint, Inc. (NASDAQ:SAIL) shares gapped up prior to trading on Monday . The stock had previously closed at $17.24, but opened at $18.30. SailPoint shares last traded at $19.4650, with a volume of 754,302 shares.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SAIL. BTIG Research restated a “buy” rating and issued a $21.00 price target on shares of SailPoint in a research report on Wednesday, September 9th. Bank of America reiterated a “neutral” rating and set a $16.00 price objective on shares of SailPoint in a research report on Friday, June 12th. Wells Fargo & Company boosted their price objective on SailPoint from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Mizuho set a $19.00 price objective on SailPoint in a research note on Wednesday, September 9th. Finally, The Goldman Sachs Group restated a “neutral” rating and issued a $19.00 target price on shares of SailPoint in a report on Wednesday, June 10th. Nineteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.12.

SailPoint Trading Up 0.5%

The firm’s fifty day simple moving average is $17.46 and its two-hundred day simple moving average is $15.11. The company has a market capitalization of $11.41 billion, a price-to-earnings ratio of -58.76, a price-to-earnings-growth ratio of 2.19 and a beta of 2.17.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $308.81 million during the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. The firm’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) EPS. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. As a group, analysts forecast that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In other SailPoint news, CEO Mark McClain sold 118,194 shares of the firm’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $1,925,380.26. Following the completion of the sale, the chief executive officer owned 8,187,130 shares of the company’s stock, valued at $133,368,347.70. This trade represents a 1.42% 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. 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, CFO Brian Carolan sold 46,002 shares of SailPoint stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $709,350.84. Following the completion of the sale, the chief financial officer owned 1,707,742 shares in the company, valued at $26,333,381.64. This represents a 2.62% decrease in their position. 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 a total of 491,559 shares of company stock valued at $7,809,391 in the last ninety days. Company insiders own 1.70% of the company’s stock.

Institutional Trading of SailPoint

Institutional investors and hedge funds have recently bought and sold shares of the stock. WINTON GROUP Ltd lifted its position in SailPoint by 171.8% in the second quarter. WINTON GROUP Ltd now owns 64,954 shares of the company’s stock valued at $951,000 after buying an additional 41,054 shares during the last quarter. Engineers Gate Manager LP acquired a new stake in shares of SailPoint during the second quarter valued at about $464,000. Integrated Wealth Concepts LLC acquired a new stake in shares of SailPoint during the second quarter valued at about $125,000. Corient Private Wealth LP purchased a new stake in shares of SailPoint in the 2nd quarter valued at approximately $412,000. Finally, Outfitters Financial LLC raised its stake in shares of SailPoint by 4.8% in the 2nd quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock valued at $603,000 after acquiring an additional 1,900 shares during the period.

SailPoint Company Profile

SailPoint Technologies, Inc (NASDAQ: SAIL) is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.