SailPoint, Inc. $SAIL Stock Position Lifted by Renaissance Capital LLC

Key Points

• Renaissance Capital LLC increased its position in SailPoint, Inc. by 30% during the second quarter, owning 65,569 shares valued at approximately $1.5 million.
• SailPoint reported a 32.9% year-over-year revenue increase in its recent quarterly earnings, beating estimates with revenues of $264.36 million.
• Analysts have varied ratings on SailPoint, with a consensus rating of "Moderate Buy" and an average price target of $25.48.

Renaissance Capital LLC grew its position in shares of SailPoint, Inc. (NASDAQ:SAIL - Free Report) by 30.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,569 shares of the company's stock after buying an additional 15,114 shares during the period. SailPoint comprises 1.0% of Renaissance Capital LLC's portfolio, making the stock its 22nd largest position. Renaissance Capital LLC's holdings in SailPoint were worth $1,499,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Assetmark Inc. bought a new position in SailPoint during the 1st quarter worth approximately $32,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of SailPoint in the 1st quarter worth approximately $49,000. Quarry LP bought a new stake in shares of SailPoint in the 1st quarter worth approximately $70,000. Picton Mahoney Asset Management bought a new stake in shares of SailPoint in the 1st quarter worth approximately $87,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of SailPoint in the 1st quarter worth approximately $150,000.

SailPoint Trading Up 1.8%

Shares of SAIL stock opened at $22.31 on Tuesday. SailPoint, Inc. has a 1 year low of $15.05 and a 1 year high of $26.35. The business's fifty day moving average is $20.85 and its 200-day moving average is $19.89.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings results on Tuesday, September 9th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $264.36 million for the quarter, compared to analyst estimates of $243.41 million. The company's revenue was up 32.9% on a year-over-year basis. SailPoint has set its FY 2026 guidance at 0.200-0.220 EPS. Q3 2026 guidance at 0.050-0.06 EPS.

Wall Street Analysts Forecast Growth

SAIL has been the topic of several recent research reports. Arete Research raised SailPoint to a "strong sell" rating and set a $16.00 price target on the stock in a report on Monday, July 7th. Morgan Stanley raised SailPoint from an "equal weight" rating to an "overweight" rating and set a $25.00 price target on the stock in a report on Tuesday, September 2nd. Mizuho lifted their target price on SailPoint from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. BTIG Research reaffirmed a "buy" rating and set a $29.00 target price on shares of SailPoint in a research note on Tuesday, September 9th. Finally, Stephens raised SailPoint to a "strong-buy" rating in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $25.48.

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.

Want to see what other hedge funds are holding SAIL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SailPoint, Inc. (NASDAQ:SAIL - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.