Sailpoint Technologies (SAIL) Shares Down 0.9%

Shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) traded down 0.9% on Monday . The stock traded as low as $19.96 and last traded at $20.20. 210,752 shares traded hands during trading, a decline of 57% from the average session volume of 484,583 shares. The stock had previously closed at $20.01.

Several analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $25.00 target price (up from $23.50) on shares of Sailpoint Technologies in a research report on Monday. Zacks Investment Research upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Friday. Canaccord Genuity started coverage on Sailpoint Technologies in a report on Tuesday, December 12th. They issued a “hold” rating and a $15.00 price objective for the company. Royal Bank of Canada restated a “buy” rating and issued a $21.00 price objective on shares of Sailpoint Technologies in a report on Friday, February 23rd. Finally, KeyCorp lifted their price objective on Sailpoint Technologies from $22.00 to $26.00 and gave the company an “overweight” rating in a report on Monday, March 19th. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $21.33.

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The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.21.

Sailpoint Technologies (NYSE:SAIL) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $67.77 million during the quarter, compared to the consensus estimate of $55.75 million. research analysts forecast that Sailpoint Technologies Holdings Inc will post 0.05 earnings per share for the current fiscal year.

A number of institutional investors have recently made changes to their positions in SAIL. Gilder Gagnon Howe & Co. LLC bought a new position in Sailpoint Technologies in the fourth quarter worth about $22,033,000. Picton Mahoney Asset Management bought a new position in Sailpoint Technologies in the fourth quarter worth about $2,761,000. Thompson Davis & CO. Inc. bought a new position in Sailpoint Technologies in the fourth quarter worth about $156,000. Pentwater Capital Management LP bought a new position in Sailpoint Technologies in the fourth quarter worth about $290,000. Finally, Wells Fargo & Company MN bought a new position in Sailpoint Technologies in the fourth quarter worth about $8,294,000. Institutional investors and hedge funds own 25.03% of the company’s stock.

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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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