Sailpoint Technologies (SAIL) Cut to “Hold” at ValuEngine

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ValuEngine downgraded shares of Sailpoint Technologies (NYSE:SAIL) from a buy rating to a hold rating in a research report released on Friday, ValuEngine reports.

A number of other research firms also recently issued reports on SAIL. Monness Crespi & Hardt reissued a buy rating and issued a $37.00 price objective (up previously from $30.00) on shares of Sailpoint Technologies in a report on Wednesday, February 20th. Piper Jaffray Companies restated an overweight rating and set a $35.00 target price on shares of Sailpoint Technologies in a research note on Wednesday, March 6th. Northland Securities restated a hold rating and set a $30.00 target price on shares of Sailpoint Technologies in a research note on Wednesday, March 6th. Zacks Investment Research cut shares of Sailpoint Technologies from a strong-buy rating to a hold rating in a research note on Wednesday, May 8th. Finally, Summit Insights started coverage on shares of Sailpoint Technologies in a research note on Wednesday, April 17th. They set a buy rating and a $35.00 target price on the stock. Seven analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $29.67.

SAIL opened at $18.56 on Friday. The company has a market capitalization of $1.75 billion, a P/E ratio of 116.00, a price-to-earnings-growth ratio of 38.50 and a beta of 1.56. Sailpoint Technologies has a 12-month low of $18.00 and a 12-month high of $34.60.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings data on Tuesday, March 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.11. The company had revenue of $80.59 million for the quarter, compared to the consensus estimate of $71.01 million. Sailpoint Technologies had a negative net margin of 2.14% and a positive return on equity of 3.26%. As a group, analysts expect that Sailpoint Technologies will post 0.03 EPS for the current year.

In other news, CRO Howard R. Greenfield sold 10,000 shares of Sailpoint Technologies stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $28.89, for a total transaction of $288,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark D. Mcclain sold 33,000 shares of Sailpoint Technologies stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $31.72, for a total transaction of $1,046,760.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 172,890 shares of company stock worth $5,126,670. Company insiders own 4.10% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in SAIL. Vanguard Group Inc. raised its position in shares of Sailpoint Technologies by 42.6% during the third quarter. Vanguard Group Inc. now owns 5,953,503 shares of the company’s stock valued at $202,538,000 after buying an additional 1,778,907 shares during the last quarter. Norges Bank bought a new stake in shares of Sailpoint Technologies during the fourth quarter valued at approximately $34,726,000. JPMorgan Chase & Co. raised its position in shares of Sailpoint Technologies by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 6,960,015 shares of the company’s stock valued at $236,780,000 after buying an additional 935,714 shares during the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Sailpoint Technologies during the first quarter valued at approximately $26,396,000. Finally, BlackRock Inc. raised its position in shares of Sailpoint Technologies by 14.2% during the fourth quarter. BlackRock Inc. now owns 5,674,590 shares of the company’s stock valued at $133,296,000 after buying an additional 705,830 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

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