Analysts Set Sailpoint Inc (NYSE:SAIL) Price Target at $25.97

Shares of Sailpoint Inc (NYSE:SAIL - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the fifteen analysts that are currently covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $25.97.

A number of research firms have issued reports on SAIL. BMO Capital Markets initiated coverage on Sailpoint in a report on Monday, March 10th. They issued an "outperform" rating and a $26.00 target price on the stock. JPMorgan Chase & Co. initiated coverage on Sailpoint in a report on Monday, March 10th. They set a "neutral" rating and a $25.00 price objective on the stock. TD Cowen initiated coverage on Sailpoint in a report on Monday, March 10th. They set a "buy" rating and a $30.00 price objective on the stock. The Goldman Sachs Group initiated coverage on Sailpoint in a report on Monday, March 10th. They set a "neutral" rating and a $23.00 price objective on the stock. Finally, Evercore ISI initiated coverage on Sailpoint in a report on Monday, March 10th. They set an "outperform" rating and a $29.00 price objective on the stock.

Institutional Investors Weigh In On Sailpoint

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in shares of Sailpoint during the 1st quarter valued at $94,194,000. Alliancebernstein L.P. bought a new position in Sailpoint during the 1st quarter worth approximately $55,644,000. T. Rowe Price Investment Management Inc. purchased a new stake in Sailpoint in the 1st quarter worth approximately $46,875,000. Ameriprise Financial Inc. purchased a new stake in Sailpoint in the 1st quarter worth approximately $42,585,000. Finally, Stephens Investment Management Group LLC purchased a new stake in Sailpoint in the 1st quarter worth approximately $23,213,000.

Sailpoint Stock Down 1.5%

SAIL stock traded down $0.26 during trading hours on Monday, hitting $17.35. 627,339 shares of the stock traded hands, compared to its average volume of 1,958,065. The firm has a 50-day moving average of $17.99. Sailpoint has a one year low of $15.05 and a one year high of $26.35.

Sailpoint (NYSE:SAIL - Get Free Report) last released its quarterly earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.01) by ($4.28). The company had revenue of $240.10 million during the quarter, compared to analyst estimates of $229.69 million.

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.