Sailpoint (NYSE:SAIL) Price Target Raised to $27.00 at BMO Capital Markets

Sailpoint (NYSE:SAIL - Free Report) had its price target hoisted by BMO Capital Markets from $26.00 to $27.00 in a research note issued to investors on Thursday morning, Marketbeat reports. BMO Capital Markets currently has an outperform rating on the stock.

A number of other analysts have also commented on the company. The Goldman Sachs Group initiated coverage on Sailpoint in a report on Monday, March 10th. They set a "neutral" rating and a $23.00 price target on the stock. Mizuho lifted their price target on Sailpoint from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Wednesday. Jefferies Financial Group dropped their price target on Sailpoint from $26.00 to $24.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Barclays set a $23.00 target price on Sailpoint and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Finally, Bank of America assumed coverage on Sailpoint in a research report on Monday, March 10th. They issued a "buy" rating and a $27.50 target price for the company. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Sailpoint currently has an average rating of "Moderate Buy" and an average target price of $26.50.

Sailpoint Trading Down 3.0%

Sailpoint stock traded down $0.69 during mid-day trading on Thursday, reaching $22.61. 1,871,241 shares of the company's stock were exchanged, compared to its average volume of 1,998,863. The business has a fifty day simple moving average of $18.03. Sailpoint has a one year low of $15.05 and a one year high of $26.35.

Sailpoint (NYSE:SAIL - Get Free Report) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($4.29) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($4.28). The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $229.69 million.

Hedge Funds Weigh In On Sailpoint

Several hedge funds have recently made changes to their positions in SAIL. Assetmark Inc. purchased a new position in shares of Sailpoint in the first quarter valued at $32,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of Sailpoint in the first quarter valued at $49,000. Quarry LP purchased a new position in shares of Sailpoint in the first quarter valued at $70,000. Picton Mahoney Asset Management purchased a new position in Sailpoint during the first quarter worth about $87,000. Finally, PNC Financial Services Group Inc. purchased a new position in Sailpoint during the first quarter worth about $150,000.

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.