Zacks Investment Research Lowers SailPoint Technologies (SAIL) to Sell

SailPoint Technologies (NYSE:SAIL) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report issued on Friday.

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. “

A number of other analysts have also weighed in on the stock. Canaccord Genuity reiterated a “hold” rating and issued a $24.00 price objective on shares of SailPoint Technologies in a research note on Wednesday. Needham & Company LLC raised their price target on shares of SailPoint Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Tuesday, April 24th. Jefferies Group restated a “buy” rating and set a $28.00 price target on shares of SailPoint Technologies in a research report on Thursday, April 19th. KeyCorp raised their price target on shares of SailPoint Technologies from $22.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, March 19th. Finally, Royal Bank of Canada restated a “buy” rating and set a $21.00 price target on shares of SailPoint Technologies in a research report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. SailPoint Technologies presently has an average rating of “Buy” and an average target price of $23.33.

NYSE:SAIL opened at $22.34 on Friday. The firm has a market capitalization of $1.97 billion and a PE ratio of 558.50. SailPoint Technologies has a 1-year low of $22.10 and a 1-year high of $23.63. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.21.

SailPoint Technologies (NYSE:SAIL) last released its quarterly earnings data on Wednesday, May 9th. The company reported $0.02 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.05. The business had revenue of $49.70 million during the quarter, compared to analyst estimates of $44.60 million. The company’s quarterly revenue was up 40.0% compared to the same quarter last year. research analysts predict that SailPoint Technologies will post -0.12 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC purchased a new position in SailPoint Technologies during the fourth quarter worth about $100,000. Citigroup Inc. acquired a new stake in shares of SailPoint Technologies during the first quarter valued at about $158,000. C M Bidwell & Associates Ltd. acquired a new stake in shares of SailPoint Technologies during the first quarter valued at about $182,000. Thompson Davis & CO. Inc. acquired a new stake in shares of SailPoint Technologies during the fourth quarter valued at about $156,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of SailPoint Technologies during the first quarter valued at about $237,000. 24.75% of the stock is currently owned by institutional investors.

SailPoint Technologies Company Profile

SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.

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Analyst Recommendations for SailPoint Technologies (NYSE:SAIL)

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