Analysts Set SailPoint, Inc. (NASDAQ:SAIL) PT at $25.47

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) has earned an average rating of "Moderate Buy" from the eighteen analysts that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, five have issued a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $25.47.

A number of research firms have weighed in on SAIL. The Goldman Sachs Group reissued a "neutral" rating on shares of SailPoint in a report on Wednesday, June 11th. Barclays increased their target price on SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a report on Thursday, June 12th. Arete initiated coverage on SailPoint in a research report on Monday, July 7th. They set a "sell" rating and a $16.00 price objective on the stock. Cantor Fitzgerald initiated coverage on SailPoint in a research note on Monday, June 30th. They set an "overweight" rating and a $29.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on SailPoint from $25.00 to $26.00 and gave the company a "neutral" rating in a research note on Thursday, June 12th.

SailPoint Stock Performance

SAIL stock traded up $1.13 during trading on Tuesday, reaching $21.56. The stock had a trading volume of 1,227,205 shares, compared to its average volume of 1,985,680. SailPoint has a 52 week low of $15.05 and a 52 week high of $26.35. The firm's 50 day moving average is $20.38.

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

Institutional Trading of SailPoint

A number of large investors have recently added to or reduced their stakes in the company. Renaissance Capital LLC increased its position in shares of SailPoint by 30.0% during the 2nd quarter. Renaissance Capital LLC now owns 65,569 shares of the company's stock valued at $1,499,000 after purchasing an additional 15,114 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of SailPoint in the 2nd quarter worth $427,000. Goldman Sachs Group Inc. purchased a new stake in shares of SailPoint in the 1st quarter worth $7,546,000. Voya Investment Management LLC purchased a new stake in shares of SailPoint in the 1st quarter worth $53,616,000. Finally, Siren L.L.C. bought a new position in shares of SailPoint in the 1st quarter worth $1,781,000.

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.