Sailpoint (NYSE:SAIL) Price Target Raised to $29.00

Sailpoint (NYSE:SAIL - Get Free Report) had its price objective hoisted by equities research analysts at Royal Bank of Canada from $27.00 to $29.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price target would suggest a potential upside of 24.46% from the stock's previous close.

Other equities analysts also recently issued reports about the stock. BTIG Research started coverage on shares of Sailpoint in a report on Monday, March 10th. They set a "buy" rating and a $27.00 target price for the company. The Goldman Sachs Group assumed coverage on Sailpoint in a report on Monday, March 10th. They issued a "neutral" rating and a $23.00 target price on the stock. Barclays upped their price target on shares of Sailpoint from $23.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday. Bank of America assumed coverage on Sailpoint in a research note on Monday, March 10th. They set a "buy" rating and a $27.50 target price for the company. Finally, Piper Sandler assumed coverage on shares of Sailpoint in a research note on Monday, March 10th. They issued an "overweight" rating and a $30.00 price target for the company. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $26.50.

Sailpoint Stock Performance

SAIL traded up $0.77 during trading on Thursday, hitting $23.30. The stock had a trading volume of 3,181,015 shares, compared to its average volume of 2,000,391. The business has a 50-day moving average of $17.91. Sailpoint has a twelve month low of $15.05 and a twelve month high of $26.35.

Sailpoint (NYSE:SAIL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($4.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($4.28). The company had revenue of $240.10 million during the quarter, compared to analysts' expectations of $229.69 million.

Institutional Investors Weigh In On Sailpoint

A number of hedge funds have recently added to or reduced their stakes in the stock. Stephens Investment Management Group LLC bought a new position in shares of Sailpoint in the first quarter worth $23,213,000. Allianz Asset Management GmbH acquired a new position in Sailpoint in the 1st quarter worth approximately $3,496,000. GW&K Investment Management LLC acquired a new position in Sailpoint during the first quarter valued at $2,173,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Sailpoint in the 1st quarter valued at about $1,683,000. Finally, Assetmark Inc. purchased a new stake in Sailpoint in the 1st quarter worth approximately $32,000.

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.