SailPoint (NASDAQ:SAIL) Shares Gap Up – Should You Buy?

SailPoint, Inc. (NASDAQ:SAIL)’s share price gapped up prior to trading on Monday . The stock had previously closed at $17.24, but opened at $18.30. SailPoint shares last traded at $19.4650, with a volume of 754,302 shares changing hands.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. BTIG Research reissued a “buy” rating and issued a $21.00 target price on shares of SailPoint in a research report on Wednesday, September 9th. Roth Capital reaffirmed a “buy” rating and set a $21.00 price target (up from $19.00) on shares of SailPoint in a research report on Thursday. Royal Bank Of Canada boosted their price objective on SailPoint from $19.00 to $22.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Evercore reissued an “outperform” rating on shares of SailPoint in a report on Thursday. Finally, Truist Financial raised their target price on shares of SailPoint from $18.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, August 19th. Nineteen equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.12.

SailPoint Stock Up 15.4%

The business’s fifty day moving average price is $17.30 and its 200 day moving average price is $15.02. The firm has a market capitalization of $11.36 billion, a PE ratio of -58.56, a PEG ratio of 1.91 and a beta of 2.17.

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 negative net margin of 16.92% and a positive return on equity of 2.44%. The business had revenue of $308.81 million during the quarter. During the same quarter last year, the company posted ($0.02) EPS. SailPoint’s quarterly revenue was up 17.0% on a year-over-year basis. 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, analysts anticipate that SailPoint, Inc. will post 0.33 earnings per share for the current year.

Insider Activity at SailPoint

In other news, CAO Mitra Rezvan sold 3,881 shares of the business’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $59,845.02. Following the transaction, the chief accounting officer owned 182,641 shares of the company’s stock, valued at approximately $2,816,324.22. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, CEO Mark D. Mcclain sold 93,260 shares of the business’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 $1,438,069.20. Following the completion of the transaction, the chief executive officer directly owned 8,093,870 shares in the company, valued at approximately $124,807,475.40. The trade was a 1.14% 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. 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 ninety days. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC grew its holdings in shares of SailPoint by 12.0% in the 2nd quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock worth $122,000 after acquiring an additional 900 shares during the period. Cerity Partners LLC increased its stake in SailPoint by 0.8% in the 4th quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock valued at $2,339,000 after purchasing an additional 923 shares in the last quarter. Main Management ETF Advisors LLC raised its holdings in SailPoint by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock worth $2,075,000 after purchasing an additional 1,048 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its holdings in SailPoint by 24.1% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 7,871 shares of the company’s stock worth $159,000 after purchasing an additional 1,528 shares during the last quarter. Finally, Outfitters Financial LLC boosted its position in SailPoint by 4.8% during the second quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock worth $603,000 after purchasing an additional 1,900 shares in the last quarter.

SailPoint Company Profile

SailPoint Technologies, Inc (NASDAQ: SAIL) is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.