SailPoint (NASDAQ:SAIL) Now Covered by Arete

Arete assumed coverage on shares of SailPoint (NASDAQ:SAIL - Free Report) in a research note issued to investors on Monday, MarketBeat reports. The firm issued a sell rating and a $16.00 target price on the stock.

SAIL has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price objective on shares of SailPoint from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th. Bank of America assumed coverage on shares of SailPoint in a research note on Monday, March 10th. They set a "buy" rating and a $27.50 price objective on the stock. Jefferies Financial Group lowered their price objective on shares of SailPoint from $26.00 to $24.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. BMO Capital Markets raised their price objective on shares of SailPoint from $26.00 to $27.00 and gave the company an "outperform" rating in a research note on Thursday, June 12th. Finally, Evercore ISI assumed coverage on shares of SailPoint in a research note on Monday, March 10th. They set an "outperform" rating and a $29.00 price objective on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.47.

SailPoint Stock Performance

SAIL stock traded down $0.19 during trading on Monday, reaching $21.97. 1,400,585 shares of the company's stock were exchanged, compared to its average volume of 2,044,304. SailPoint has a 1-year low of $15.05 and a 1-year high of $26.35. The company has a fifty day simple moving average of $19.84.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings data on Wednesday, June 11th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The company had revenue of $230.47 million during the quarter, compared to analyst estimates of $225.18 million. The firm's quarterly revenue was up 22.8% compared to the same quarter last year.

Institutional Trading of SailPoint

A number of hedge funds have recently modified their holdings of the business. Assetmark Inc. purchased a new stake in shares of SailPoint in the first quarter valued at $32,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of SailPoint in the first quarter valued at $49,000. Quarry LP purchased a new stake in shares of SailPoint in the first quarter valued at $70,000. Picton Mahoney Asset Management purchased a new stake in shares of SailPoint in the first quarter valued at $87,000. Finally, PNC Financial Services Group Inc. purchased a new stake in shares of SailPoint in the first quarter valued at $150,000.

SailPoint Company Profile

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.