SailPoint, Inc. (NASDAQ:SAIL) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• SailPoint has a “Moderate Buy” consensus rating from 20 analysts, with 14 buy ratings and 2 strong buy ratings. The average 12-month price target is about $21.35.
• Several analysts recently adjusted their views, with firms like FBN Securities, BTIG, Barclays, Cantor Fitzgerald, and TD Cowen issuing or maintaining bullish ratings but in some cases lowering price targets.
• Recent company updates showed insider selling by two executives and continued interest from large hedge funds, while SailPoint also reported quarterly EPS of $0.08, matching estimates on 22.9% revenue growth year over year.

Shares of SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty analysts that are presently covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $21.3526.

A number of analysts recently issued reports on SAIL shares. FBN Securities started coverage on shares of SailPoint in a report on Tuesday, February 24th. They set an "outperform" rating and a $18.00 price objective for the company. BTIG Research decreased their price objective on shares of SailPoint from $22.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, March 19th. Barclays decreased their price objective on shares of SailPoint from $23.00 to $20.00 and set an "overweight" rating for the company in a report on Monday, March 16th. Cantor Fitzgerald restated an "overweight" rating and set a $23.00 price objective on shares of SailPoint in a report on Monday, March 23rd. Finally, TD Cowen reduced their target price on shares of SailPoint from $30.00 to $25.00 and set a "buy" rating for the company in a research note on Tuesday, February 24th.

Insider Transactions at SailPoint

In other news, EVP Chandrasekar Gnanasambandam sold 20,082 shares of SailPoint stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $230,139.72. Following the completion of the transaction, the executive vice president owned 968,926 shares in the company, valued at $11,103,891.96. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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, General Counsel Christopher Schmitt sold 18,813 shares of SailPoint stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $215,596.98. Following the completion of the transaction, the general counsel owned 1,355,551 shares of the company's stock, valued at $15,534,614.46. The trade was a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 526,962 shares of company stock valued at $6,420,108. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On SailPoint

Several hedge funds have recently bought and sold shares of SAIL. Norges Bank purchased a new position in SailPoint during the fourth quarter valued at approximately $234,681,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in SailPoint during the second quarter valued at approximately $64,453,000. UBS Group AG lifted its position in SailPoint by 116.3% during the third quarter. UBS Group AG now owns 4,128,038 shares of the company's stock valued at $91,147,000 after purchasing an additional 2,219,593 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in SailPoint during the fourth quarter valued at approximately $35,203,000. Finally, NZS Capital LLC lifted its position in SailPoint by 186.6% during the third quarter. NZS Capital LLC now owns 1,747,161 shares of the company's stock valued at $38,577,000 after purchasing an additional 1,137,643 shares during the last quarter.

SailPoint Stock Performance

NASDAQ SAIL opened at $12.23 on Monday. SailPoint has a 52-week low of $10.30 and a 52-week high of $24.95. The company has a 50-day simple moving average of $12.91 and a 200 day simple moving average of $16.80. The company has a market capitalization of $6.94 billion, a PE ratio of -21.84 and a beta of 1.09.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.08. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The business had revenue of $294.65 million during the quarter. During the same quarter last year, the business posted ($4.29) EPS. The business's quarterly revenue was up 22.9% on a year-over-year basis. As a group, analysts forecast that SailPoint will post 0.32 EPS for the current fiscal year.

About SailPoint

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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