Zimmer Partners LP Makes New $1.97 Million Investment in SailPoint, Inc. $SAIL

Key Points

• Zimmer Partners LP has invested approximately $1.97 million in SailPoint, acquiring 105,000 shares during the first quarter of 2023.
• Research analysts have shown positive sentiment towards SailPoint, with ratings including a "strong-buy" and multiple upgrades increasing the target price to an average of $25.48.
• SailPoint recently reported a 32.9% increase in quarterly revenue year-over-year and achieved earnings per share of $0.07, surpassing estimates by $0.03.

Zimmer Partners LP bought a new position in SailPoint, Inc. (NASDAQ:SAIL - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 105,000 shares of the company's stock, valued at approximately $1,969,000.

Other large investors have also made changes to their positions in the company. Assetmark Inc. purchased a new position in shares of SailPoint in the 1st quarter worth $32,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in SailPoint in the 1st quarter valued at $49,000. Quarry LP acquired a new stake in SailPoint in the 1st quarter valued at $70,000. Picton Mahoney Asset Management acquired a new stake in SailPoint in the 1st quarter valued at $87,000. Finally, PNC Financial Services Group Inc. acquired a new stake in SailPoint in the 1st quarter valued at $150,000.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SAIL shares. The Goldman Sachs Group restated a "neutral" rating on shares of SailPoint in a research note on Wednesday, June 11th. Arete Research upgraded SailPoint to a "strong sell" rating and set a $16.00 target price for the company in a research note on Monday, July 7th. Stephens upgraded SailPoint to a "strong-buy" rating in a research note on Tuesday, August 12th. Scotiabank initiated coverage on SailPoint in a research note on Wednesday, September 3rd. They issued a "sector outperform" rating and a $25.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded SailPoint from a "neutral" rating to an "overweight" rating and set a $26.00 price target for the company in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, SailPoint has an average rating of "Moderate Buy" and a consensus target price of $25.48.

SailPoint Stock Performance

NASDAQ SAIL traded down $0.01 during trading hours on Monday, reaching $21.60. The company's stock had a trading volume of 1,290,711 shares, compared to its average volume of 2,197,683. The business has a 50-day simple moving average of $20.60 and a 200 day simple moving average of $19.93. SailPoint, Inc. has a 52 week low of $15.05 and a 52 week high of $26.35.

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