SailPoint (NASDAQ:SAIL) Stock Price Down 5.7% - What's Next?

Key Points

• SailPoint shares fell 5.7% to about $20.86, with trading volume roughly half its average. The stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment remains favorable, with a consensus “Moderate Buy” rating and an average price target of $21.55; Truist raised its target to $27, while DA Davidson maintained a neutral rating with a $17 target.
• SailPoint exceeded quarterly earnings expectations, reporting $0.09 EPS versus $0.08 expected and revenue of $308.81 million, up 17% year over year. However, the company remains unprofitable on a net-margin basis, and insiders have sold approximately $7.8 million of shares over the past three months.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) was down 5.7% during trading on Friday. The company traded as low as $20.96 and last traded at $20.8570. 1,893,184 shares changed hands during trading, a decline of 50% from the average daily volume of 3,767,614 shares. The stock had previously closed at $22.12.

Analysts Set New Price Targets

Several research firms have recently weighed in on SAIL. Wolfe Research reaffirmed an "outperform" rating and issued a $18.00 price objective on shares of SailPoint in a research note on Wednesday, June 10th. Scotiabank increased their price target on SailPoint from $19.00 to $22.00 and gave the company an "outperform" rating in a report on Thursday, September 10th. TD Cowen reaffirmed a "buy" rating on shares of SailPoint in a research report on Wednesday, September 9th. DA Davidson reiterated a "neutral" rating and set a $17.00 target price on shares of SailPoint in a research note on Thursday, September 10th. Finally, Truist Financial increased their price target on SailPoint from $23.00 to $27.00 and gave the stock a "buy" rating in a research report on Thursday. Nineteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.55.

SailPoint Trading Down 6.0%

The firm has a 50-day moving average price of $18.29 and a 200-day moving average price of $15.42. The company has a market capitalization of $11.87 billion, a price-to-earnings ratio of -61.27, a PEG ratio of 2.35 and a beta of 2.17.

SailPoint (NASDAQ:SAIL - Get Free Report) last announced its quarterly earnings data on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. The company had revenue of $308.81 million for the quarter. During the same period in the prior year, the firm earned ($0.02) EPS. The business's revenue for the quarter was up 17.0% on a year-over-year basis. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Equities research analysts predict that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at SailPoint

In other SailPoint news, insider Abby Payne sold 21,542 shares of the business's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $350,919.18. Following the sale, the insider owned 908,964 shares in the company, valued at approximately $14,807,023.56. The trade was a 2.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, President Matt Mills sold 43,485 shares of SailPoint stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total value of $708,370.65. Following the transaction, the president directly owned 2,407,849 shares in the company, valued at approximately $39,223,860.21. This trade represents a 1.77% decrease in their position. 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 have sold a total of 491,559 shares of company stock worth $7,809,391 in the last three months. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On SailPoint

A number of hedge funds and other institutional investors have recently made changes to their positions in SAIL. Norges Bank acquired a new position in SailPoint in the fourth quarter worth approximately $234,681,000. Wasatch Advisors LP bought a new stake in SailPoint in the second quarter worth approximately $66,173,000. BlackRock Inc. bought a new stake in SailPoint in the second quarter worth approximately $65,050,000. Stephens Investment Management Group LLC increased its stake in shares of SailPoint by 51.0% during the 1st quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company's stock worth $38,339,000 after purchasing an additional 978,376 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in shares of SailPoint by 40.1% during the 1st quarter. Bank of America Corp DE now owns 1,764,870 shares of the company's stock worth $23,367,000 after purchasing an additional 504,726 shares during the last quarter.

SailPoint Company Profile

SailPoint Technologies, Inc NASDAQ: SAIL is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company's offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.

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