Sailpoint Technologies (SAIL) Downgraded to “Hold” at Zacks Investment Research

Sailpoint Technologies (NYSE:SAIL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include Open Identity Platform, Cloud-based Identity Governance, On-premises Identity Governance, Data Access Governance, Identity Analytics, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “

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Other analysts also recently issued research reports about the stock. Citigroup assumed coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They set a “buy” rating and a $20.00 price objective for the company. Needham & Company LLC began coverage on shares of Sailpoint Technologies in a research report on Wednesday, February 7th. They set a “buy” rating and a $21.00 price objective for the company. Oppenheimer began coverage on shares of Sailpoint Technologies in a research report on Tuesday, December 12th. They issued a “buy” rating and a $20.00 price target for the company. Canaccord Genuity lifted their price target on shares of Sailpoint Technologies from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Finally, Jefferies Group reissued a “buy” rating and issued a $23.00 price target on shares of Sailpoint Technologies in a research report on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $21.17.

Shares of SAIL stock opened at $20.01 on Friday. Sailpoint Technologies has a 52-week low of $12.82 and a 52-week high of $23.93.

Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings data on Wednesday, February 21st. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. The company had revenue of $67.77 million for the quarter, compared to analyst estimates of $55.75 million. research analysts predict that Sailpoint Technologies will post 0.05 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently bought and sold shares of SAIL. Gilder Gagnon Howe & Co. LLC acquired a new stake in Sailpoint Technologies in the 4th quarter valued at $22,033,000. Picton Mahoney Asset Management acquired a new stake in Sailpoint Technologies in the 4th quarter valued at $2,761,000. Thompson Davis & CO. Inc. acquired a new stake in Sailpoint Technologies in the 4th quarter valued at $156,000. Pentwater Capital Management LP acquired a new stake in Sailpoint Technologies in the 4th quarter valued at $290,000. Finally, Wells Fargo & Company MN acquired a new stake in Sailpoint Technologies in the 4th quarter valued at $8,294,000. 25.03% of the stock is owned by institutional investors and hedge funds.

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Sailpoint Technologies Company Profile

SailPoint Technologies Holdings, Inc is a provider of enterprise identity governance solutions. The Company is focused on providing SailPoint that empowers customers to efficiently and securely govern the digital identities of employees, contractors, business partners and other users, and manage their constantly changing access rights to enterprise applications and data.

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