Sailpoint Technologies (SAIL) Updates FY 2019 Earnings Guidance

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Sailpoint Technologies (NYSE:SAIL) issued an update on its FY 2019 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $0.25-0.29 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.25. The company issued revenue guidance of $293-299 million, compared to the consensus revenue estimate of $296.97 million.Sailpoint Technologies also updated its Q1 2019 guidance to $-0.02-0.00 EPS.

SAIL opened at $29.62 on Wednesday. Sailpoint Technologies has a 12 month low of $19.50 and a 12 month high of $34.60. The firm has a market cap of $2.62 billion, a P/E ratio of 740.50 and a beta of 1.78.

Several analysts have commented on the company. Zacks Investment Research raised Sailpoint Technologies from a hold rating to a buy rating and set a $29.00 price objective for the company in a research note on Wednesday, December 5th. Goldman Sachs Group raised Sailpoint Technologies from a neutral rating to a buy rating and upped their price objective for the company from $32.00 to $33.00 in a research note on Monday, November 12th. Monness Crespi & Hardt reaffirmed a buy rating and set a $37.00 price objective (up from $30.00) on shares of Sailpoint Technologies in a research note on Wednesday, February 20th. Finally, Piper Jaffray Companies reaffirmed an overweight rating and set a $35.00 price objective on shares of Sailpoint Technologies in a research note on Wednesday. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $31.79.

In other Sailpoint Technologies news, CAO Thomas Arthur Beck sold 5,200 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $31.76, for a total transaction of $165,152.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James Cameron Mcmartin sold 14,000 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $31.76, for a total value of $444,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 224,290 shares of company stock worth $6,240,374. 4.70% of the stock is owned by corporate insiders.

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About Sailpoint Technologies

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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