SailPoint, Inc. (NASDAQ:SAIL) Receives $21.79 Consensus Target Price from Analysts

Shares of SailPoint, Inc. (NASDAQ:SAIL) have received a consensus recommendation of “Moderate Buy” from the twenty-one brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have given a hold recommendation, fifteen have given a buy recommendation and two have given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $21.4850.

Several equities analysts recently issued reports on SAIL shares. BMO Capital Markets reiterated an “outperform” rating on shares of SailPoint in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (d-)” rating on shares of SailPoint in a research report on Monday, December 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 price objective on shares of SailPoint in a report on Monday. Truist Financial lowered their target price on shares of SailPoint from $23.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Finally, Mizuho dropped their target price on SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th.

SailPoint Trading Down 1.8%

Shares of SAIL stock opened at $12.32 on Friday. SailPoint has a twelve month low of $11.83 and a twelve month high of $24.95. The stock has a market cap of $6.95 billion and a P/E ratio of -22.00. The stock has a 50 day moving average of $15.36 and a 200 day moving average of $18.93.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The business had revenue of $294.65 million for the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.29) EPS.

Insiders Place Their Bets

In other news, General Counsel Christopher Schmitt sold 11,908 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total value of $228,990.84. Following the completion of the sale, the general counsel directly owned 1,057,956 shares in the company, valued at $20,344,493.88. The trade was a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark D. Mcclain sold 61,106 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total value of $1,175,068.38. Following the transaction, the chief executive officer directly owned 7,139,202 shares of the company’s stock, valued at approximately $137,286,854.46. The trade was a 0.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 354,243 shares of company stock worth $6,924,823.

Hedge Funds Weigh In On SailPoint

A number of large investors have recently added to or reduced their stakes in the stock. Vident Advisory LLC raised its position in SailPoint by 6.4% during the fourth quarter. Vident Advisory LLC now owns 55,823 shares of the company’s stock worth $1,129,000 after acquiring an additional 3,370 shares during the period. one8zero8 LLC grew its position in shares of SailPoint by 2.0% in the fourth quarter. one8zero8 LLC now owns 105,550 shares of the company’s stock valued at $2,135,000 after purchasing an additional 2,050 shares during the period. Occudo Quantitative Strategies LP purchased a new stake in shares of SailPoint during the fourth quarter worth about $606,000. Balyasny Asset Management L.P. raised its holdings in SailPoint by 126.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 535,475 shares of the company’s stock valued at $10,833,000 after acquiring an additional 299,356 shares during the last quarter. Finally, Freestone Grove Partners LP increased its stake in shares of SailPoint by 69.8% in the 4th quarter. Freestone Grove Partners LP now owns 500,000 shares of the company’s stock worth $10,115,000 after acquiring an additional 205,606 shares during the last quarter.

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.