SailPoint, Inc. (NASDAQ:SAIL) Receives $26.50 Average Price Target from Analysts

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

Several equities research analysts recently issued reports on the company. TD Cowen assumed coverage on SailPoint in a report on Monday, March 10th. They issued a "buy" rating and a $30.00 price objective on the stock. Royal Bank Of Canada reissued an "outperform" rating and set a $29.00 target price (up from $27.00) on shares of SailPoint in a research note on Thursday, June 12th. Morgan Stanley lowered their target price on SailPoint from $26.00 to $25.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group lowered their target price on SailPoint from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Barclays boosted their target price on SailPoint from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th.

Hedge Funds Weigh In On SailPoint

A number of large investors have recently modified their holdings of SAIL. Assetmark Inc. purchased a new position in SailPoint during the first quarter worth $32,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of SailPoint during the first quarter worth $49,000. Quarry LP acquired a new stake in shares of SailPoint during the first quarter worth $70,000. Picton Mahoney Asset Management acquired a new position in SailPoint in the first quarter valued at $87,000. Finally, PNC Financial Services Group Inc. acquired a new position in SailPoint in the first quarter valued at $150,000.

SailPoint Trading Up 4.1%

SAIL traded up $0.92 during trading on Friday, hitting $23.52. The company's stock had a trading volume of 1,787,408 shares, compared to its average volume of 1,908,507. SailPoint has a twelve month low of $15.05 and a twelve month high of $26.35. The business's fifty day moving average price is $18.77.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 11th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.01) by $0.02. The firm had revenue of $230.47 million during the quarter, compared to analyst estimates of $225.18 million. The firm's revenue 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.