Royal Bank Of Canada Reiterates Outperform Rating for SailPoint (NASDAQ:SAIL)

Key Points

• Royal Bank of Canada reiterated its Outperform rating on SailPoint and kept a $19 price target, implying about 37.8% upside from the stock’s current level.
• SailPoint’s stock was down 2.2% to $13.78 on Wednesday, while analyst sentiment remains positive overall with a Moderate Buy consensus and a $20.08 average target price.
• The company recently beat quarterly EPS estimates by $0.01 and posted 21.5% year-over-year revenue growth, though insiders have also been selling shares in recent months.

SailPoint (NASDAQ:SAIL - Get Free Report)'s stock had its "outperform" rating reaffirmed by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $19.00 target price on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 37.84% from the stock's current price.

Other equities analysts have also issued research reports about the stock. BMO Capital Markets reaffirmed an "outperform" rating on shares of SailPoint in a research report on Wednesday, June 10th. Robert W. Baird dropped their price target on shares of SailPoint from $26.00 to $22.00 and set an "outperform" rating for the company in a research report on Thursday, March 19th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $23.00 price target on shares of SailPoint in a research report on Wednesday, June 10th. Truist Financial dropped their price target on shares of SailPoint from $23.00 to $18.00 and set a "buy" rating for the company in a research report on Thursday, March 19th. Finally, BTIG Research reaffirmed a "buy" rating and set a $18.00 price target on shares of SailPoint in a research report on Tuesday, June 9th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.08.

SailPoint Stock Down 2.2%

Shares of SAIL traded down $0.31 on Wednesday, hitting $13.78. 1,170,310 shares of the stock traded hands, compared to its average volume of 3,439,616. The firm has a market capitalization of $7.82 billion, a P/E ratio of -51.02, a P/E/G ratio of 2.04 and a beta of 2.02. The stock's 50 day moving average is $13.82 and its two-hundred day moving average is $15.82. SailPoint has a 1 year low of $10.30 and a 1 year high of $24.95.

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

Insider Activity at SailPoint

In other SailPoint news, CEO Mark D. Mcclain sold 92,874 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total transaction of $1,064,336.04. Following the completion of the transaction, the chief executive officer directly owned 8,305,324 shares of the company's stock, valued at $95,179,013.04. The trade was a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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, CFO Brian Carolan sold 47,444 shares of the business's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total transaction of $543,708.24. Following the transaction, the chief financial officer directly owned 1,786,212 shares of the company's stock, valued at $20,469,989.52. The trade was a 2.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 534,449 shares of company stock worth $6,569,848 over the last 90 days. Company insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On SailPoint

A number of large investors have recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of SailPoint by 40.1% during the first quarter. Bank of America Corp DE now owns 1,764,870 shares of the company's stock valued at $23,367,000 after acquiring an additional 504,726 shares during the period. The Manufacturers Life Insurance Company grew its position in SailPoint by 178.4% in the first quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company's stock worth $1,397,000 after acquiring an additional 67,601 shares in the last quarter. Quantinno Capital Management LP grew its position in SailPoint by 531.8% in the first quarter. Quantinno Capital Management LP now owns 251,770 shares of the company's stock worth $3,333,000 after acquiring an additional 211,922 shares in the last quarter. Renaissance Technologies LLC bought a new stake in SailPoint in the first quarter worth approximately $5,214,000. Finally, NewEdge Wealth LLC bought a new stake in SailPoint in the first quarter worth approximately $1,508,000.

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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