SailPoint (NASDAQ:SAIL) Stock Price Breaks Above Fifty Day Moving Average – Time to Sell?

SailPoint, Inc. (NASDAQ:SAIL)’s stock price passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $19.95 and traded as high as $20.65. SailPoint shares last traded at $20.36, with a volume of 4,251,774 shares changing hands.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Royal Bank Of Canada upped their target price on SailPoint from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Stephens reissued an “overweight” rating on shares of SailPoint in a research note on Monday, October 12th. HC Wainwright reissued a “buy” rating on shares of SailPoint in a research note on Monday, October 12th. Rosenblatt Securities restated a “neutral” rating and issued a $17.00 price target on shares of SailPoint in a report on Thursday, September 10th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $21.00 price objective on shares of SailPoint in a research note on Thursday, September 10th. Twenty-one equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, SailPoint has an average rating of “Moderate Buy” and an average target price of $22.20.

SailPoint Stock Performance

The company has a market cap of $11.87 billion, a price-to-earnings ratio of 66.53, a price-to-earnings-growth ratio of 2.11 and a beta of 2.08. The stock’s fifty day simple moving average is $19.97 and its two-hundred day simple moving average is $16.20.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The company 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 period in the prior year, the firm earned ($0.02) earnings per share. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Analysts predict that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Christopher Schmitt sold 23,367 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total value of $460,563.57. Following the transaction, the general counsel owned 1,268,311 shares in the company, valued at approximately $24,998,409.81. This trade represents a 1.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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, CEO Mark McClain sold 115,356 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total transaction of $2,273,666.76. Following the completion of the transaction, the chief executive officer owned 7,874,621 shares in the company, valued at $155,208,779.91. The trade was a 1.44% 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. In the last 90 days, insiders have sold 515,009 shares of company stock worth $10,310,350. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

Hedge funds have recently made changes to their positions in the business. Advisors Asset Management Inc. acquired a new position in shares of SailPoint during the 3rd quarter valued at $793,000. GW&K Investment Management LLC increased its holdings in SailPoint by 33.4% in the 3rd quarter. GW&K Investment Management LLC now owns 5,361,087 shares of the company’s stock valued at $109,151,000 after purchasing an additional 1,343,162 shares in the last quarter. Stephens Investment Management Group LLC increased its holdings in SailPoint by 4.7% in the 3rd quarter. Stephens Investment Management Group LLC now owns 4,350,462 shares of the company’s stock valued at $88,575,000 after purchasing an additional 195,561 shares in the last quarter. Voya Investment Management LLC increased its holdings in SailPoint by 26.8% in the 3rd quarter. Voya Investment Management LLC now owns 2,470,138 shares of the company’s stock valued at $50,292,000 after purchasing an additional 521,463 shares in the last quarter. Finally, Royce & Associates LP raised its position in SailPoint by 45.8% in the third quarter. Royce & Associates LP now owns 532,207 shares of the company’s stock valued at $10,836,000 after purchasing an additional 167,207 shares during the period.

About SailPoint

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots. The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.