SailPoint (NASDAQ:SAIL) Trading Up 6.5% – Still a Buy?

SailPoint, Inc. (NASDAQ:SAIL) shot up 6.5% on Thursday . The company traded as high as $15.22 and last traded at $14.83. 644,507 shares traded hands during trading, a decline of 77% from the average session volume of 2,772,721 shares. The stock had previously closed at $13.92.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Berenberg Bank initiated coverage on SailPoint in a research note on Tuesday, November 18th. They set a “buy” rating and a $31.70 price target for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of SailPoint in a report on Monday, December 29th. BTIG Research dropped their target price on SailPoint from $29.00 to $22.00 and set a “buy” rating for the company in a research report on Monday, March 2nd. Barclays dropped their target price on SailPoint from $25.00 to $23.00 and set an “overweight” rating for the company in a research report on Thursday, December 4th. Finally, The Goldman Sachs Group reduced their price target on shares of SailPoint from $25.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 28th. Four research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $24.27.

SailPoint Stock Up 0.7%

The firm’s fifty day moving average price is $16.75 and its 200-day moving average price is $19.49. The stock has a market cap of $8.64 billion and a P/E ratio of -3.21.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Tuesday, December 9th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $281.94 million during the quarter, compared to analyst estimates of $270.35 million. SailPoint had a negative net margin of 30.87% and a positive return on equity of 0.16%. SailPoint’s quarterly revenue was up 19.8% compared to the same quarter last year. SailPoint has set its FY 2026 guidance at 0.220-0.230 EPS and its Q4 2026 guidance at 0.080-0.09 EPS.

Insider Activity

In related news, General Counsel Christopher Schmitt sold 11,908 shares of the business’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total transaction of $228,990.84. Following the transaction, the general counsel owned 1,057,956 shares in the company, valued at $20,344,493.88. The trade was a 1.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Matt Mills sold 21,345 shares of the company’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total value of $410,464.35. Following the transaction, the president directly owned 1,882,913 shares of the company’s stock, valued at $36,208,416.99. The trade was a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 354,243 shares of company stock valued at $6,924,823. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On SailPoint

A number of large investors have recently made changes to their positions in SAIL. Royal Bank of Canada purchased a new position in shares of SailPoint during the first quarter valued at approximately $1,146,000. Goldman Sachs Group Inc. purchased a new stake in SailPoint in the first quarter worth $7,546,000. Amalgamated Bank purchased a new stake in SailPoint in the second quarter worth $71,000. Bank of New York Mellon Corp boosted its holdings in SailPoint by 3,022.4% in the second quarter. Bank of New York Mellon Corp now owns 481,908 shares of the company’s stock valued at $11,016,000 after acquiring an additional 466,474 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in SailPoint by 27.7% in the second quarter. Geode Capital Management LLC now owns 1,402,224 shares of the company’s stock valued at $32,061,000 after acquiring an additional 303,836 shares in the last quarter.

About SailPoint

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.