SailPoint (NASDAQ:SAIL) Stock Price Down 3.8% – What’s Next?

SailPoint, Inc. (NASDAQ:SAIL) traded down 3.8% on Wednesday . The company traded as low as $18.62 and last traded at $18.4970. Approximately 205,574 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 3,577,211 shares. The stock had previously closed at $19.23.

Analysts Set New Price Targets

SAIL has been the topic of a number of research reports. Roth Capital assumed coverage on SailPoint in a report on Wednesday, May 20th. They issued a “buy” rating and a $19.00 price objective on the stock. Bank of America reissued a “neutral” rating and issued a $16.00 price objective on shares of SailPoint in a research report on Friday, June 12th. Royal Bank Of Canada boosted their price objective on shares of SailPoint from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Cantor Fitzgerald raised their price objective on SailPoint from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, Weiss Ratings raised SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, SailPoint has an average rating of “Moderate Buy” and an average target price of $20.44.

SailPoint Trading Down 4.6%

The stock’s 50 day moving average is $16.64 and its 200 day moving average is $14.85. The stock has a market capitalization of $10.40 billion, a price-to-earnings ratio of -67.93, a PEG ratio of 2.15 and a beta of 2.16.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. During the same period last year, the business earned $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. On average, sell-side analysts anticipate that SailPoint, Inc. will post 0.32 EPS for the current year.

Insider Transactions at SailPoint

In related news, insider Abby Payne sold 16,999 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $262,124.58. Following the sale, the insider directly owned 891,965 shares of the company’s stock, valued at approximately $13,754,100.30. This trade represents a 1.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $301,306.80. Following the completion of the transaction, the executive vice president directly owned 934,508 shares in the company, valued at $14,410,113.36. This trade represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 491,559 shares of company stock worth $7,809,391 in the last quarter. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SailPoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Corient Private Wealth LP acquired a new position in shares of SailPoint in the 2nd quarter valued at about $412,000. California State Teachers Retirement System increased its position in SailPoint by 279.2% during the 2nd quarter. California State Teachers Retirement System now owns 12,473 shares of the company’s stock worth $183,000 after purchasing an additional 9,184 shares in the last quarter. Outfitters Financial LLC raised its holdings in SailPoint by 4.8% in the second quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock valued at $603,000 after buying an additional 1,900 shares during the period. B. Metzler seel. Sohn & Co. AG acquired a new position in SailPoint during the second quarter valued at approximately $1,427,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in SailPoint during the second quarter worth approximately $7,070,000.

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.