Sailpoint Technologies Holdings Inc (NYSE:SAIL) Receives $27.92 Average PT from Analysts

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Shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) have been assigned an average recommendation of “Buy” from the sixteen ratings firms that are currently covering the company, MarketBeat reports. Seven investment analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $27.92.

A number of research firms have commented on SAIL. ValuEngine cut Sailpoint Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 10th. TheStreet cut Sailpoint Technologies from a “c-” rating to a “d+” rating in a report on Thursday, May 9th. BTIG Research decreased their price target on Sailpoint Technologies from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Canaccord Genuity reissued a “hold” rating and set a $20.00 price target (down from $29.00) on shares of Sailpoint Technologies in a report on Thursday, May 9th. Finally, Oppenheimer reduced their target price on Sailpoint Technologies from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th.

Shares of SAIL stock traded up $0.02 on Friday, reaching $19.69. The stock had a trading volume of 25,205 shares, compared to its average volume of 1,396,191. The company has a market cap of $1.72 billion, a P/E ratio of 123.25 and a beta of 2.17. Sailpoint Technologies has a 1 year low of $16.63 and a 1 year high of $34.60.

Sailpoint Technologies (NYSE:SAIL) last released its earnings results on Wednesday, May 8th. The company reported ($0.06) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.01. The company had revenue of $60.58 million for the quarter, compared to the consensus estimate of $60.26 million. Sailpoint Technologies had a positive return on equity of 3.26% and a negative net margin of 2.14%. Sell-side analysts expect that Sailpoint Technologies will post -0.07 earnings per share for the current year.

In related news, COO James Cameron Mcmartin sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $18.94, for a total value of $265,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Mcclain sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $28.08, for a total value of $926,640.00. The disclosure for this sale can be found here. Insiders have sold 61,000 shares of company stock valued at $1,570,640 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Sailpoint Technologies by 5.6% during the 1st quarter. FMR LLC now owns 1,998,357 shares of the company’s stock worth $57,393,000 after buying an additional 106,813 shares during the last quarter. Bridgecreek Investment Management LLC purchased a new position in shares of Sailpoint Technologies during the 1st quarter worth approximately $4,357,000. State of Wisconsin Investment Board boosted its position in shares of Sailpoint Technologies by 25.1% during the 1st quarter. State of Wisconsin Investment Board now owns 437,800 shares of the company’s stock worth $12,574,000 after purchasing an additional 87,800 shares during the period. AlphaCrest Capital Management LLC purchased a new position in shares of Sailpoint Technologies during the 1st quarter worth approximately $287,000. Finally, Bollard Group LLC boosted its position in shares of Sailpoint Technologies by 35.6% during the 1st quarter. Bollard Group LLC now owns 125,700 shares of the company’s stock worth $3,610,000 after purchasing an additional 33,000 shares during the period. Hedge funds and other institutional investors own 85.99% of the company’s stock.

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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