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

Sailpoint Inc (NYSE:SAIL - Get Free Report) has been assigned an average rating of "Moderate Buy" from the fifteen brokerages that are currently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $25.97.

A number of equities research analysts recently weighed in on the stock. Evercore ISI started coverage on shares of Sailpoint in a research note on Monday, March 10th. They set an "outperform" rating and a $29.00 price objective on the stock. Morgan Stanley lowered their price target 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. Bank of America started coverage on Sailpoint in a report on Monday, March 10th. They set a "buy" rating and a $27.50 price target for the company. TD Cowen initiated coverage on Sailpoint in a research note on Monday, March 10th. They issued a "buy" rating and a $30.00 target price for the company. Finally, BMO Capital Markets initiated coverage on Sailpoint in a research report on Monday, March 10th. They issued an "outperform" rating and a $26.00 price target on the stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. purchased a new position in Sailpoint during the 1st quarter valued at approximately $94,194,000. Alliancebernstein L.P. bought a new stake in Sailpoint during the 1st quarter valued at $55,644,000. T. Rowe Price Investment Management Inc. bought a new position in shares of Sailpoint in the 1st quarter worth $46,875,000. Ameriprise Financial Inc. bought a new position in shares of Sailpoint in the 1st quarter worth $42,585,000. Finally, Stephens Investment Management Group LLC bought a new position in shares of Sailpoint in the 1st quarter worth $23,213,000.

Sailpoint Stock Down 0.6%

Shares of NYSE:SAIL traded down $0.10 on Monday, reaching $17.27. 21,805 shares of the company were exchanged, compared to its average volume of 1,936,900. Sailpoint has a 1-year low of $15.05 and a 1-year high of $26.35. The stock's 50-day simple moving average is $17.93.

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