Altimeter Capital Management LP Purchases Shares of 250,000 SailPoint, Inc. $SAIL

Key Points

• Altimeter Capital Management LP made a new investment in SailPoint, Inc., acquiring 250,000 shares worth approximately $4.69 million, which represents 0.1% of its total holdings and is its 20th largest position.
• SailPoint's recent earnings report showed a revenue increase of 22.8% year-over-year, surpassing analyst expectations with reported revenues of $230.47 million and an earnings per share of $0.01.
• Analyst ratings for SailPoint are mixed, with a consensus rating of "Moderate Buy" and price target estimates varying from $16.00 to $29.00.

Altimeter Capital Management LP bought a new position in SailPoint, Inc. (NASDAQ:SAIL - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 250,000 shares of the company's stock, valued at approximately $4,688,000. SailPoint makes up 0.1% of Altimeter Capital Management LP's investment portfolio, making the stock its 20th largest position.

A number of other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in SailPoint during the 1st quarter valued at approximately $94,194,000. T. Rowe Price Investment Management Inc. acquired a new stake in SailPoint during the 1st quarter valued at approximately $46,875,000. Ameriprise Financial Inc. acquired a new stake in SailPoint during the 1st quarter valued at approximately $42,585,000. Stephens Investment Management Group LLC acquired a new stake in SailPoint during the 1st quarter valued at approximately $23,213,000. Finally, Lord Abbett & CO. LLC acquired a new stake in SailPoint during the 1st quarter valued at approximately $20,813,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SAIL. Arete Research upgraded shares of SailPoint to a "strong sell" rating and set a $16.00 price objective for the company in a research note on Monday, July 7th. The Goldman Sachs Group reaffirmed a "neutral" rating on shares of SailPoint in a report on Wednesday, June 11th. BMO Capital Markets lifted their target price on shares of SailPoint from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Morgan Stanley raised shares of SailPoint from an "equal weight" rating to an "overweight" rating and set a $25.00 target price for the company in a report on Tuesday, September 2nd. Finally, Scotiabank began coverage on shares of SailPoint in a report on Wednesday, September 3rd. They issued a "sector outperform" rating and a $25.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $25.48.

SailPoint Stock Up 1.0%

Shares of SAIL traded up $0.21 during mid-day trading on Monday, hitting $22.19. 1,511,552 shares of the company's stock were exchanged, compared to its average volume of 2,093,359. The stock's 50-day moving average is $20.70 and its 200-day moving average is $20.04. SailPoint, Inc. has a fifty-two week low of $15.05 and a fifty-two week high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last announced its quarterly 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 company had revenue of $230.47 million during the quarter, compared to analysts' expectations of $225.18 million. The company's quarterly revenue was up 22.8% compared to the same quarter last year. SailPoint has set its FY 2026 guidance at 0.160-0.200 EPS. Q2 2026 guidance at 0.040-0.050 EPS.

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.