SailPoint Technologies (NYSE:SAIL) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Friday.

According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include Open Identity Platform, Cloud-based Identity Governance, On-premises Identity Governance, Data Access Governance, Identity Analytics, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “

Other analysts have also recently issued reports about the stock. Royal Bank of Canada restated a “buy” rating and set a $21.00 target price on shares of SailPoint Technologies in a research report on Friday, February 23rd. Canaccord Genuity upped their target price on shares of SailPoint Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Needham & Company LLC upped their target price on shares of SailPoint Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. KeyCorp upped their target price on shares of SailPoint Technologies from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, March 19th. Finally, Jefferies Group reiterated a “buy” rating and set a $28.00 price target on shares of SailPoint Technologies in a report on Thursday, April 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company’s stock. SailPoint Technologies presently has a consensus rating of “Buy” and a consensus price target of $23.33.

SailPoint Technologies opened at $22.34 on Friday, according to MarketBeat Ratings. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.14 and a current ratio of 2.14. SailPoint Technologies has a fifty-two week low of $22.10 and a fifty-two week high of $23.63. The firm has a market cap of $1.97 billion and a P/E ratio of 558.50.

SailPoint Technologies (NYSE:SAIL) last announced its quarterly earnings results on Wednesday, May 9th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.05. The company had revenue of $49.70 million during the quarter, compared to analysts’ expectations of $44.60 million. The company’s quarterly revenue was up 40.0% on a year-over-year basis. equities analysts expect that SailPoint Technologies will post -0.12 earnings per share for the current year.

A number of hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. grew its stake in SailPoint Technologies by 53.5% in the 1st quarter. Thompson Davis & CO. Inc. now owns 16,500 shares of the company’s stock worth $341,000 after acquiring an additional 5,750 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in SailPoint Technologies in the 4th quarter worth about $100,000. Stifel Financial Corp grew its stake in SailPoint Technologies by 7.4% in the 1st quarter. Stifel Financial Corp now owns 109,146 shares of the company’s stock worth $2,259,000 after acquiring an additional 7,516 shares in the last quarter. Citigroup Inc. purchased a new stake in shares of SailPoint Technologies in the 1st quarter worth approximately $158,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of SailPoint Technologies in the 1st quarter worth approximately $182,000. Institutional investors and hedge funds own 24.75% of the company’s stock.

About SailPoint Technologies

SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.

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Analyst Recommendations for SailPoint Technologies (NYSE:SAIL)

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