SailPoint, Inc. (NASDAQ:SAIL) Stock Has Average Price Target of $22.20

Shares of SailPoint, Inc. (NASDAQ:SAIL) have been given a consensus recommendation of “Moderate Buy” by the twenty-eight research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $22.20.

Several research firms have recently commented on SAIL. TD Cowen restated a “buy” rating on shares of SailPoint in a report on Wednesday, September 9th. Wells Fargo & Company raised their price target on SailPoint from $19.00 to $22.00 and gave the stock an “overweight” rating in a research note on Monday, August 17th. Royal Bank Of Canada boosted their target price on SailPoint from $19.00 to $22.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Morgan Stanley lifted their price objective on shares of SailPoint from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. Finally, Barclays boosted their target price on shares of SailPoint from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th.

SailPoint Stock Up 4.5%

Shares of SAIL opened at $19.21 on Monday. The firm has a 50-day moving average price of $19.94 and a 200 day moving average price of $16.15. The firm has a market capitalization of $10.97 billion, a PE ratio of 63.97, a P/E/G ratio of 2.03 and a beta of 2.08. SailPoint has a 52-week low of $10.30 and a 52-week high of $22.62.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Wednesday, September 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $308.81 million for the quarter. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period in the prior year, the company 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. On average, equities analysts expect that SailPoint will post 0.33 EPS for the current year.

Insider Activity at SailPoint

In other news, CEO Mark McClain sold 115,356 shares of SailPoint stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $2,273,666.76. Following the sale, the chief executive officer directly owned 7,874,621 shares of the company’s stock, valued at $155,208,779.91. The trade was a 1.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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, Director James Hagan sold 4,205 shares of the company’s stock in a transaction on Tuesday, October 27th. The shares were sold at an average price of $22.50, for a total transaction of $94,612.50. Following the completion of the transaction, the director owned 94,125 shares of the company’s stock, valued at $2,117,812.50. This represents a 4.28% 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. Insiders have sold 515,009 shares of company stock worth $10,310,350 in the last 90 days. 1.70% of the stock is owned by insiders.

Institutional Trading of SailPoint

Institutional investors and hedge funds have recently modified their holdings of the stock. Wasatch Advisors LP acquired a new stake in SailPoint during the 2nd quarter worth approximately $66,173,000. The Manufacturers Life Insurance Company raised its holdings in SailPoint by 178.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock valued at $1,397,000 after buying an additional 67,601 shares during the period. Bank of America Corp DE purchased a new position in SailPoint in the 2nd quarter worth $15,661,000. GSA Capital Partners LLP acquired a new position in shares of SailPoint during the 2nd quarter worth approximately $778,000. Finally, Polianta Ltd purchased a new position in shares of SailPoint during the second quarter worth about $1,948,000.

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.

Founded in 2005 and headquartered in Austin, Texas, SailPoint serves organizations around the world.