SailPoint (NASDAQ:SAIL) Coverage Initiated by Analysts at Arete

Arete initiated coverage on shares of SailPoint (NASDAQ:SAIL - Free Report) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. The brokerage issued a sell rating and a $16.00 price objective on the stock.

A number of other equities research analysts have also issued reports on SAIL. BTIG Research assumed coverage on shares of SailPoint in a report on Monday, March 10th. They set a "buy" rating and a $27.00 price target on the stock. Royal Bank Of Canada restated an "outperform" rating and set a $29.00 price target (up previously from $27.00) on shares of SailPoint in a report on Thursday, June 12th. Morgan Stanley dropped their price objective on shares of SailPoint from $26.00 to $25.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Truist Financial started coverage on shares of SailPoint in a research note on Monday, March 10th. They issued a "buy" rating and a $29.00 price objective on the stock. Finally, Cantor Fitzgerald started coverage on shares of SailPoint in a research note on Monday, June 30th. They issued an "overweight" rating and a $29.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, SailPoint has an average rating of "Moderate Buy" and an average price target of $25.47.

SailPoint Price Performance

SAIL stock traded down $0.99 on Monday, hitting $20.92. 1,583,920 shares of the company's stock traded hands, compared to its average volume of 2,021,642. SailPoint has a 1-year low of $15.05 and a 1-year high of $26.35. The stock's fifty day moving average is $20.13.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its earnings results on Wednesday, June 11th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.02. The business had revenue of $230.47 million for the quarter, compared to analyst estimates of $225.18 million. SailPoint's revenue was up 22.8% compared to the same quarter last year.

Institutional Trading of SailPoint

Several large investors have recently modified their holdings of SAIL. Stephens Investment Management Group LLC bought a new stake in shares of SailPoint during the 1st quarter worth $23,213,000. Allianz Asset Management GmbH bought a new stake in shares of SailPoint during the 1st quarter worth $3,496,000. GW&K Investment Management LLC bought a new stake in shares of SailPoint during the 1st quarter worth $2,173,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of SailPoint during the 1st quarter worth $1,683,000. Finally, Assetmark Inc. bought a new stake in shares of SailPoint during the 1st quarter worth $32,000.

About SailPoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.