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

Key Points

• Analyst consensus: Twenty analysts give SailPoint a "Moderate Buy" consensus (14 buys, 2 strong buys, 2 holds, 2 sells) with an average 12‑month price target of about $21.35, though several firms have recently cut targets (e.g., Barclays, JPMorgan, TD Cowen, Truist).
• Insider selling: Executives sold shares under pre‑arranged Rule 10b5‑1 plans (including 20,082 and 34,171 shares on April 9), and insiders disposed of 526,962 shares totaling ~$6.42M last quarter; insiders now own roughly 2% of the stock.
• Recent results and stock level: SailPoint reported revenue up 22.9% to $294.65M and EPS of $0.08 (meeting estimates), but still has a negative net margin (−25.2%); the stock trades around $11.76, near its 12‑month low of $10.30 (12‑month high $24.95).

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

A number of brokerages have commented on SAIL. FBN Securities began coverage on SailPoint in a research note on Tuesday, February 24th. They issued an "outperform" rating and a $18.00 price target on the stock. Barclays decreased their target price on shares of SailPoint from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday, March 16th. Truist Financial lowered their price target on shares of SailPoint from $23.00 to $18.00 and set a "buy" rating for the company in a report on Thursday, March 19th. TD Cowen dropped their price target on shares of SailPoint from $30.00 to $25.00 and set a "buy" rating for the company in a research report on Tuesday, February 24th. Finally, JPMorgan Chase & Co. cut their price target on shares of SailPoint from $26.00 to $22.00 and set an "overweight" rating on the stock in a report on Thursday, March 19th.

Insider Activity at SailPoint

In related news, EVP Chandrasekar Gnanasambandam sold 20,082 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $230,139.72. Following the sale, the executive vice president directly owned 968,926 shares of the company's stock, 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 through this link. 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, President Matt Mills sold 34,171 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 value of $391,599.66. Following the transaction, the president owned 2,451,334 shares in the company, valued at approximately $28,092,287.64. This represents 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. Insiders sold a total of 526,962 shares of company stock valued at $6,420,108 in the last quarter. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On SailPoint

A number of hedge funds and other institutional investors have recently made changes to their positions in SAIL. Vanguard Group Inc. increased its position in SailPoint by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company's stock valued at $117,417,000 after purchasing an additional 219,375 shares during the period. Stephens Investment Management Group LLC lifted its position in shares of SailPoint by 10.9% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,679,495 shares of the company's stock worth $37,083,000 after purchasing an additional 165,741 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of SailPoint by 86.0% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 167,021 shares of the company's stock worth $3,688,000 after purchasing an additional 77,237 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in shares of SailPoint during the 3rd quarter valued at about $26,365,000. Finally, OFI Invest Asset Management boosted its stake in shares of SailPoint by 79.6% during the 4th quarter. OFI Invest Asset Management now owns 905,653 shares of the company's stock valued at $18,321,000 after purchasing an additional 401,431 shares in the last quarter.

SailPoint Trading Up 5.8%

Shares of NASDAQ:SAIL opened at $11.76 on Thursday. The stock's 50-day moving average price is $13.78 and its 200-day moving average price is $17.89. SailPoint has a 12-month low of $10.30 and a 12-month high of $24.95. The stock has a market capitalization of $6.63 billion, a P/E ratio of -21.00 and a beta of 2.38.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share for the quarter, meeting analysts' consensus estimates of $0.08. The company had revenue of $294.65 million during the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The company's revenue was up 22.9% on a year-over-year basis. During the same period last year, the firm posted ($4.29) EPS.

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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