SailPoint, Inc.'s (NASDAQ:SAIL) Lock-Up Period To Expire on August 12th

Key Points

• The lock-up period for SailPoint, Inc. (NASDAQ: SAIL) is set to expire on **August 12th**, allowing insiders and major shareholders to sell their shares for the first time since its IPO.
• SailPoint recently reported earnings of **$0.01 EPS**, surpassing analysts' expectations and achieving a **22.8% year-over-year revenue increase**, with revenues totaling **$230.47 million** in the latest quarter.
• The stock has a **consensus rating of "Moderate Buy"** from analysts, with a target price of **$25.47**, indicating a positive outlook for the company despite some analysts issuing sell ratings.

SailPoint's (NASDAQ:SAIL - Get Free Report) lock-up period is set to expire on Tuesday, August 12th. SailPoint had issued 60,000,000 shares in its IPO on February 13th. The total size of the offering was $1,380,000,000 based on an initial share price of $23.00. After the end of SailPoint's lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Ratings Changes

SAIL has been the subject of a number of analyst reports. Cantor Fitzgerald initiated coverage on shares of SailPoint in a research report on Monday, June 30th. They set an "overweight" rating and a $29.00 price objective for the company. Wells Fargo & Company upped their price objective on shares of SailPoint from $16.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Thursday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating on shares of SailPoint in a report on Wednesday, June 11th. Morgan Stanley cut their price target on shares of SailPoint from $26.00 to $25.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Finally, BMO Capital Markets increased their price target on shares of SailPoint from $26.00 to $27.00 and gave the company an "outperform" rating in a report on Thursday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $25.47.

SailPoint Stock Performance

Shares of NASDAQ SAIL opened at $20.60 on Tuesday. SailPoint has a 52 week low of $15.05 and a 52 week high of $26.35. The company has a 50-day simple moving average of $21.03.

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

Hedge Funds Weigh In On SailPoint

Institutional investors and hedge funds have recently modified their holdings of the company. Phoenix Financial Ltd. purchased a new position in shares of SailPoint during the first quarter valued at approximately $4,321,000. Stephens Investment Management Group LLC purchased a new position in shares of SailPoint during the first quarter valued at approximately $23,213,000. Allianz Asset Management GmbH purchased a new position in shares of SailPoint during the first quarter valued at approximately $3,496,000. GW&K Investment Management LLC purchased a new position in shares of SailPoint during the first quarter valued at approximately $2,173,000. Finally, Vestcor Inc purchased a new position in shares of SailPoint during the first quarter valued at approximately $938,000.

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.

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