SailPoint, Inc. (NASDAQ:SAIL) Given Consensus Rating of “Moderate Buy” by Brokerages

SailPoint, Inc. (NASDAQ:SAIL) has been given a consensus recommendation of “Moderate Buy” by the twenty research firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation, fourteen have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $21.2474.

SAIL has been the subject of a number of research analyst reports. Barclays dropped their price objective on SailPoint from $23.00 to $20.00 and set an “overweight” rating for the company in a report on Monday, March 16th. FBN Securities initiated coverage on SailPoint in a report on Tuesday, February 24th. They set an “outperform” rating and a $18.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Truist Financial dropped their price objective on SailPoint from $23.00 to $18.00 and set a “buy” rating for the company in a report on Thursday, March 19th. Finally, Mizuho dropped their price objective on SailPoint from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Tuesday, February 17th.

Insider Buying and Selling at SailPoint

In other news, CFO Brian Carolan sold 47,444 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $543,708.24. Following the completion of the sale, the chief financial officer directly owned 1,786,212 shares in the company, valued at $20,469,989.52. This represents a 2.59% decrease in their position. The transaction was disclosed in a 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, President Matt Mills sold 34,171 shares of the company’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $391,599.66. Following the sale, the president directly owned 2,451,334 shares of the company’s stock, valued at approximately $28,092,287.64. This trade represents a 1.37% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 526,962 shares of company stock worth $6,420,108. 1.70% of the stock is currently owned by company insiders.

Institutional Trading of SailPoint

A number of institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in SailPoint by 178.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock worth $1,397,000 after purchasing an additional 67,601 shares during the period. Quantinno Capital Management LP boosted its position in SailPoint by 531.8% during the 1st quarter. Quantinno Capital Management LP now owns 251,770 shares of the company’s stock worth $3,333,000 after purchasing an additional 211,922 shares during the period. Renaissance Technologies LLC purchased a new stake in SailPoint during the 1st quarter worth $5,214,000. NewEdge Wealth LLC purchased a new stake in SailPoint during the 1st quarter worth $1,508,000. Finally, Dimensional Fund Advisors LP purchased a new stake in SailPoint during the 1st quarter worth $3,782,000.

SailPoint Stock Performance

Shares of SAIL opened at $13.50 on Monday. The stock has a fifty day moving average of $12.70 and a two-hundred day moving average of $16.37. The company has a market capitalization of $7.66 billion, a PE ratio of -24.11 and a beta of 1.09. SailPoint has a fifty-two week low of $10.30 and a fifty-two week high of $24.95.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting analysts’ consensus estimates of $0.08. The business had revenue of $294.65 million during the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($4.29) earnings per share. As a group, equities research analysts forecast that SailPoint will post 0.32 earnings per share for the current fiscal year.

SailPoint Company Profile

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.