SailPoint (NASDAQ:SAIL) Given New $20.00 Price Target at Mizuho

Key Points

• Mizuho raised SailPoint’s price target to $20 from $19 but kept a neutral rating; the new target implies 3.8% downside from the stock’s current price.
• Analyst sentiment is broadly positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $22.24, with 21 Buy, six Hold and one Sell rating.
• SailPoint beat quarterly EPS estimates, reporting $0.09 versus $0.08 expected, while revenue rose 17% year over year to $308.81 million.

SailPoint (NASDAQ:SAIL - Get Free Report) had its price objective raised by equities research analysts at Mizuho from $19.00 to $20.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Mizuho's price target suggests a potential downside of 3.80% from the stock's current price.

SAIL has been the topic of several other research reports. Rosenblatt Securities reissued a "neutral" rating and issued a $17.00 price objective on shares of SailPoint in a research note on Thursday, September 10th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of SailPoint in a research report on Wednesday. Barclays raised their price target on SailPoint from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Thursday, September 10th. BTIG Research restated a "buy" rating and issued a $21.00 price objective on shares of SailPoint in a report on Wednesday, September 9th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of SailPoint in a research note on Wednesday, October 7th. Twenty-one analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.24.

SailPoint Price Performance

Shares of SAIL opened at $20.79 on Thursday. SailPoint has a 1-year low of $10.30 and a 1-year high of $22.62. The company has a 50-day moving average of $19.97 and a 200 day moving average of $16.20. The firm has a market capitalization of $11.87 billion, a price-to-earnings ratio of 66.53, a PEG ratio of 2.11 and a beta of 2.08.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its earnings results on Wednesday, September 9th. The company reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.01. The business had revenue of $308.81 million for the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. SailPoint's revenue was up 17.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.02) earnings per share. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. On average, equities analysts anticipate that SailPoint will post 0.33 earnings per share for the current fiscal year.

Insider Buying and Selling at SailPoint

In other news, EVP Chandrasekar Gnanasambandam sold 22,609 shares of SailPoint stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $445,623.39. Following the transaction, the executive vice president directly owned 898,821 shares in the company, valued at approximately $17,715,761.91. This trade represents a 2.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Christopher Schmitt sold 23,367 shares of the business's stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $460,563.57. Following the completion of the transaction, the general counsel directly owned 1,268,311 shares of the company's stock, valued at approximately $24,998,409.81. The trade was a 1.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 513,795 shares of company stock worth $10,286,070. 1.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SailPoint

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Gables Capital Management Inc. bought a new position in SailPoint in the second quarter worth about $29,000. Allworth Financial LP grew its position in shares of SailPoint by 91.2% in the 3rd quarter. Allworth Financial LP now owns 2,635 shares of the company's stock worth $54,000 after buying an additional 1,257 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in shares of SailPoint in the 2nd quarter worth approximately $50,000. Covestor Ltd grew its position in shares of SailPoint by 134.1% in the 3rd quarter. Covestor Ltd now owns 3,813 shares of the company's stock worth $78,000 after buying an additional 2,184 shares during the last quarter. Finally, State of Wyoming bought a new position in shares of SailPoint during the 2nd quarter worth approximately $56,000.

SailPoint Company Profile

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots. The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.