Brokerages Set SailPoint, Inc. (NASDAQ:SAIL) Target Price at $25.47

Key Points

• SailPoint, Inc. has received a consensus recommendation of "Moderate Buy" from 18 brokerages, with an average target price of $25.47.
• Recent analyst ratings include "overweight" from Cantor Fitzgerald with a $29 target, and several upgrades from BMO, Mizuho, and Barclays.
• For the latest earnings report, SailPoint exceeded expectations with $0.01 EPS and revenue growth of 22.8%, totaling $230.47 million.

Shares of SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) have earned a consensus rating of "Moderate Buy" from the nineteen analysts that are covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, four have given a hold recommendation, twelve have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $25.50.

A number of equities research analysts have issued reports on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $29.00 target price (up from $27.00) on shares of SailPoint in a research note on Thursday, June 12th. Arete Research upgraded shares of SailPoint to a "strong sell" rating and set a $16.00 price objective on the stock in a research report on Monday, July 7th. Wells Fargo & Company boosted their target price on shares of SailPoint from $16.00 to $20.00 and gave the company an "equal weight" rating in a research note on Thursday, June 12th. Arete started coverage on shares of SailPoint in a research note on Monday, July 7th. They issued a "sell" rating and a $16.00 price target on the stock. Finally, Cantor Fitzgerald started coverage on SailPoint in a report on Monday, June 30th. They set an "overweight" rating and a $29.00 price target on the stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. purchased a new position in SailPoint during the 1st quarter valued at about $94,194,000. Norges Bank purchased a new position in SailPoint during the second quarter valued at approximately $112,297,000. Alliancebernstein L.P. acquired a new position in SailPoint in the 1st quarter valued at approximately $55,644,000. Voya Investment Management LLC purchased a new stake in SailPoint in the 1st quarter worth approximately $53,616,000. Finally, T. Rowe Price Investment Management Inc. acquired a new stake in shares of SailPoint during the 1st quarter valued at $46,875,000.

SailPoint Trading Up 7.6%

Shares of NASDAQ:SAIL traded up $1.44 during midday trading on Friday, reaching $20.39. The company had a trading volume of 2,502,229 shares, compared to its average volume of 2,083,913. The company's fifty day simple moving average is $21.24. SailPoint has a one year low of $15.05 and a one year high of $26.35.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings results on Wednesday, June 11th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. The firm had revenue of $230.47 million for the quarter, compared to analyst estimates of $225.18 million. SailPoint's quarterly revenue was up 22.8% on a year-over-year basis.

SailPoint Company Profile

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.