SailPoint (NASDAQ:SAIL) Upgraded to “Hold” at DA Davidson

DA Davidson upgraded shares of SailPoint (NASDAQ:SAIL) to a hold rating in a research note issued to investors on Monday morning,Zacks.com reports.

A number of other equities analysts have also commented on the company. Bank of America reiterated a “neutral” rating and issued a $16.00 price objective on shares of SailPoint in a research note on Friday, June 12th. Truist Financial set a $18.00 target price on SailPoint in a research note on Wednesday, June 17th. BMO Capital Markets reaffirmed an “outperform” rating on shares of SailPoint in a report on Wednesday, June 10th. BTIG Research reaffirmed a “buy” rating and issued a $18.00 price target on shares of SailPoint in a research report on Tuesday, June 9th. Finally, Jefferies Financial Group lowered SailPoint from a “buy” rating to a “buy” rating in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SailPoint has a consensus rating of “Moderate Buy” and an average target price of $19.94.

SailPoint Stock Up 1.2%

NASDAQ:SAIL opened at $17.40 on Monday. SailPoint has a 12 month low of $10.30 and a 12 month high of $24.00. The firm has a market cap of $9.87 billion, a price-to-earnings ratio of -64.44, a P/E/G ratio of 1.91 and a beta of 2.08. The company’s 50 day moving average is $15.38 and its 200-day moving average is $14.50.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $280.14 million during the quarter. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. SailPoint’s quarterly revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Research analysts predict that SailPoint will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Chandrasekar Gnanasambandam sold 19,540 shares of the company’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $301,306.80. Following the completion of the transaction, the executive vice president directly owned 934,508 shares in the company, valued at approximately $14,410,113.36. This represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available 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, CAO Mitra Rezvan sold 3,881 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer directly owned 182,641 shares of the company’s stock, valued at approximately $2,816,324.22. This trade represents a 2.08% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. In the last three months, insiders have sold 497,832 shares of company stock worth $7,934,851. 1.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On SailPoint

Several institutional investors and hedge funds have recently bought and sold shares of SAIL. Norges Bank bought a new position in shares of SailPoint during the 4th quarter worth about $234,681,000. Wasatch Advisors LP bought a new stake in SailPoint in the second quarter valued at about $66,173,000. UBS Group AG increased its stake in SailPoint by 116.3% in the third quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock valued at $91,147,000 after acquiring an additional 2,219,593 shares during the period. Stephens Investment Management Group LLC raised its position in SailPoint by 51.0% in the first quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock worth $38,339,000 after purchasing an additional 978,376 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SailPoint by 1.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,869,273 shares of the company’s stock worth $63,359,000 after purchasing an additional 49,718 shares in the last quarter.

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.