SailPoint (NASDAQ:SAIL) Shares Gap Up - Time to Buy?

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) shares gapped up before the market opened on Thursday . The stock had previously closed at $18.22, but opened at $19.47. SailPoint shares last traded at $20.8930, with a volume of 639,605 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Roth Capital started coverage on SailPoint in a research report on Wednesday, May 20th. They issued a "buy" rating and a $19.00 target price for the company. Wells Fargo & Company raised their target price on SailPoint from $19.00 to $22.00 and gave the company an "overweight" rating in a report on Monday, August 17th. Cantor Fitzgerald reissued an "overweight" rating and set a $23.00 price target on shares of SailPoint in a research report on Wednesday, June 17th. Truist Financial upped their price target on SailPoint from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Wednesday, August 19th. Finally, Wolfe Research reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of SailPoint in a research report on Wednesday, June 10th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.26.

SailPoint Trading Up 13.5%

The business's 50-day simple moving average is $16.08 and its two-hundred day simple moving average is $14.71. The company has a market capitalization of $11.72 billion, a PE ratio of -76.43, a PEG ratio of 1.87 and a beta of 2.08.

SailPoint (NASDAQ:SAIL - Get Free Report) last announced its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The business had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The firm's revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, analysts forecast that SailPoint, Inc. will post 0.32 EPS for the current year.

Insider Activity at SailPoint

In other SailPoint news, CFO Brian Carolan sold 46,002 shares of the company's stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $709,350.84. Following the transaction, the chief financial officer directly owned 1,707,742 shares of the company's stock, valued at $26,333,381.64. This represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Chandrasekar Gnanasambandam sold 19,540 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $301,306.80. Following the transaction, the executive vice president owned 934,508 shares of the company's stock, valued at approximately $14,410,113.36. This trade represents a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 499,046 shares of company stock worth $7,959,131 over the last ninety days. Company insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SAIL. Gables Capital Management Inc. bought a new position in shares of SailPoint during the second quarter worth about $29,000. Palladiem LLC acquired a new position in SailPoint in the fourth quarter worth about $42,000. Kestra Advisory Services LLC bought a new stake in SailPoint in the fourth quarter valued at about $42,000. State of Wyoming bought a new stake in SailPoint in the second quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. acquired a new stake in SailPoint during the second quarter valued at approximately $50,000.

SailPoint Company Profile

SailPoint Technologies Holdings, Inc NASDAQ: SAIL is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company's flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.

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