SailPoint (NASDAQ:SAIL) Stock Falls 5.7% – What’s Next?

SailPoint, Inc. (NASDAQ:SAIL)’s share price fell 5.7% during trading on Friday. The stock traded as low as $20.96 and last traded at $20.8570. Approximately 1,893,184 shares changed hands during trading, a decline of 50% from the average daily volume of 3,767,614 shares. The stock had previously closed at $22.12.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Jefferies Financial Group reaffirmed a “buy” rating and issued a $23.00 price target on shares of SailPoint in a research report on Friday, September 4th. Scotiabank increased their price objective on SailPoint from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Thursday, September 10th. TD Cowen restated a “buy” rating on shares of SailPoint in a report on Wednesday, September 9th. Weiss Ratings raised SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, August 13th. Finally, BMO Capital Markets reiterated a “buy” rating and set a $21.00 price target on shares of SailPoint in a report on Thursday, September 10th. Nineteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

SailPoint Price Performance

The firm’s 50 day moving average price is $18.29 and its 200-day moving average price is $15.42. The firm has a market cap of $11.87 billion, a price-to-earnings ratio of -61.27, a P/E/G ratio of 2.35 and a beta of 2.17.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $308.81 million during the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. SailPoint’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the company earned ($0.02) earnings per share. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Analysts expect that SailPoint, Inc. will post 0.33 EPS for the current year.

Insider Buying and Selling at SailPoint

In related news, CEO Mark McClain sold 93,260 shares of SailPoint stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the sale, the chief executive officer directly owned 8,093,870 shares of the company’s stock, valued at $124,807,475.40. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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, insider Abby Payne sold 16,999 shares of the business’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $262,124.58. Following the transaction, the insider owned 891,965 shares in the company, valued at $13,754,100.30. This represents a 1.87% 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. Insiders sold 491,559 shares of company stock valued at $7,809,391 over the last quarter. Company insiders own 1.70% of the company’s stock.

Institutional Trading of SailPoint

A number of institutional investors and hedge funds have recently modified their holdings of SAIL. WINTON GROUP Ltd lifted its position in SailPoint by 171.8% in the second quarter. WINTON GROUP Ltd now owns 64,954 shares of the company’s stock worth $951,000 after purchasing an additional 41,054 shares during the period. Engineers Gate Manager LP bought a new stake in SailPoint in the 2nd quarter valued at $464,000. Integrated Wealth Concepts LLC bought a new stake in SailPoint in the 2nd quarter valued at $125,000. Corient Private Wealth LP acquired a new position in shares of SailPoint in the 2nd quarter valued at $412,000. Finally, Outfitters Financial LLC lifted its holdings in shares of SailPoint by 4.8% during 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.

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.