SailPoint (NASDAQ:SAIL) Price Target Raised to $20.00

SailPoint (NASDAQ:SAIL) had its price objective lifted by investment analysts at Mizuho from $19.00 to $20.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho‘s price objective indicates a potential downside of 3.80% from the company’s previous close.

SAIL has been the subject of several other research reports. BTIG Research reissued a “buy” rating and issued a $21.00 price target on shares of SailPoint in a report on Wednesday, September 9th. Royal Bank Of Canada upped their price objective on shares of SailPoint from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Bank of America increased their price objective on shares of SailPoint from $19.00 to $22.00 and gave the company a “neutral” rating in a research report on Friday, September 18th. DA Davidson reiterated a “neutral” rating and issued a $17.00 target price on shares of SailPoint in a research note on Thursday, September 10th. Finally, BMO Capital Markets reissued a “buy” rating and set a $21.00 target price on shares of SailPoint in a research report on Thursday, September 10th. Twenty-one analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.24.

SailPoint Trading Up 4.2%

Shares of SAIL opened at $20.79 on Thursday. The firm has a market cap of $11.87 billion, a PE ratio of 66.53, a P/E/G ratio of 2.11 and a beta of 2.08. SailPoint has a 12 month low of $10.30 and a 12 month high of $22.62. The stock has a fifty day moving average price of $19.97 and a 200-day moving average price of $16.20.

SailPoint (NASDAQ:SAIL) last announced its earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The firm had revenue of $308.81 million for the quarter. During the same quarter last year, the firm earned ($0.02) earnings per share. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. 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, research analysts forecast that SailPoint will post 0.33 EPS for the current year.

Insider Buying and Selling at SailPoint

In other news, EVP Chandrasekar Gnanasambandam sold 22,609 shares of the stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $445,623.39. Following the transaction, the executive vice president directly owned 898,821 shares of the company’s stock, valued at approximately $17,715,761.91. This represents a 2.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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, General Counsel Christopher Schmitt sold 23,367 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total transaction of $460,563.57. Following the transaction, the general counsel directly owned 1,268,311 shares of the company’s stock, valued at $24,998,409.81. This represents a 1.81% 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. In the last quarter, insiders have sold 513,795 shares of company stock worth $10,286,070. 1.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAIL. FNY Investment Advisers LLC increased its holdings in shares of SailPoint by 12.0% during 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 during the last quarter. Allworth Financial LP lifted its holdings in shares of SailPoint by 91.2% in the 3rd quarter. Allworth Financial LP now owns 2,635 shares of the company’s stock worth $54,000 after acquiring an additional 1,257 shares during the last quarter. State of Wyoming lifted its holdings in shares of SailPoint by 33.4% in the 3rd quarter. State of Wyoming now owns 5,089 shares of the company’s stock worth $104,000 after acquiring an additional 1,274 shares during the last quarter. Outfitters Financial LLC boosted its position in shares of SailPoint by 4.8% during the 2nd quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock worth $603,000 after purchasing an additional 1,900 shares during the period. Finally, Gables Capital Management Inc. purchased a new position in shares of SailPoint during the 2nd quarter worth approximately $29,000.

SailPoint Company Profile

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.