SailPoint (NASDAQ:SAIL) Shares Climb 6.5% – Here’s What Happened

Shares of SailPoint, Inc. (NASDAQ:SAIL) rose 6.5% during mid-day trading on Friday. The stock traded as high as $21.27 and last traded at $21.36. 634,656 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,851,239 shares. The stock had previously closed at $20.06.

Analyst Ratings Changes

A number of research analysts recently weighed in on SAIL shares. KeyCorp started coverage on shares of SailPoint in a report on Friday, October 2nd. They issued a “sector weight” rating for the company. Barclays increased their target price on shares of SailPoint from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, September 10th. Truist Financial raised their price target on shares of SailPoint from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Weiss Ratings upgraded shares of SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Finally, BTIG Research reaffirmed a “buy” rating and set a $21.00 price objective on shares of SailPoint in a research report on Wednesday, September 9th. Twenty-one analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

SailPoint Stock Performance

The stock has a market cap of $12.43 billion, a PE ratio of -64.23, a P/E/G ratio of 2.08 and a beta of 2.15. The firm’s 50-day moving average is $19.55 and its 200 day moving average is $16.32.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter. During the same quarter last year, the firm earned ($0.02) earnings per share. The company’s 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. On average, sell-side analysts predict that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Insider Activity at SailPoint

In other SailPoint news, General Counsel Christopher Schmitt sold 23,367 shares of the stock in a transaction that occurred on Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total value of $460,563.57. Following the completion of the sale, the general counsel owned 1,268,311 shares of the company’s stock, valued at $24,998,409.81. This trade represents a 1.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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, insider Abby Payne sold 21,027 shares of the business’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total transaction of $414,442.17. Following the completion of the transaction, the insider owned 852,002 shares in the company, valued at $16,792,959.42. This represents a 2.41% decrease in their position. 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. Insiders sold 510,804 shares of company stock valued at $10,215,738 over the last quarter. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

Large investors have recently bought and sold shares of the business. FNY Investment Advisers LLC boosted its holdings in shares of SailPoint by 12.0% during the second quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock valued at $122,000 after acquiring an additional 900 shares during the period. Outfitters Financial LLC increased its holdings in shares of SailPoint by 4.8% in the 2nd quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock worth $603,000 after acquiring an additional 1,900 shares during the period. Gables Capital Management Inc. bought a new stake in SailPoint in the 2nd quarter valued at about $29,000. Handelsbanken Fonder AB lifted its position in SailPoint by 13.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 18,000 shares of the company’s stock valued at $264,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. bought a new stake in SailPoint in the 2nd quarter valued at about $50,000.

About SailPoint

SailPoint Technologies, Inc (NASDAQ:SAIL) provides identity security software that helps organizations manage and protect digital identities and access to applications, data, and other technology resources. Its platform is designed to support identity governance, access management, compliance, and security operations across complex information-technology environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform for managing workforce and machine identities, as well as identity governance and administration capabilities delivered through its broader SailPoint platform.