SailPoint, Inc. (NASDAQ:SAIL) Receives Average Rating of "Moderate Buy" from Analysts

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the fifteen research firms that are covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $26.50.

Several research analysts have recently weighed in on SAIL shares. Mizuho boosted their price target on shares of SailPoint from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Barclays boosted their target price on shares of SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. JPMorgan Chase & Co. raised their price target on shares of SailPoint from $25.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, June 12th. Bank of America began coverage on SailPoint in a report on Monday, March 10th. They issued a "buy" rating and a $27.50 price objective on the stock. Finally, TD Cowen started coverage on SailPoint in a research report on Monday, March 10th. They issued a "buy" rating and a $30.00 price objective for the company.

Hedge Funds Weigh In On SailPoint

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Assetmark Inc. purchased a new stake in SailPoint during the first quarter worth about $32,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of SailPoint in the first quarter valued at approximately $49,000. Quarry LP acquired a new position in shares of SailPoint in the first quarter valued at approximately $70,000. Picton Mahoney Asset Management purchased a new stake in SailPoint during the 1st quarter worth approximately $87,000. Finally, PNC Financial Services Group Inc. acquired a new stake in SailPoint during the 1st quarter worth approximately $150,000.

SailPoint Stock Performance

SAIL opened at $22.95 on Friday. The business has a 50 day simple moving average of $18.54. SailPoint has a 1-year low of $15.05 and a 1-year high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last announced its quarterly earnings data on Wednesday, June 11th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The company had revenue of $230.47 million for the quarter, compared to analysts' expectations of $225.18 million. The company's revenue for the quarter was up 22.8% compared to the same quarter last year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.