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 initial public offering on February 13th. The total size of the offering was $1,380,000,000 based on an initial share price of $23.00. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Wall Street Analyst Weigh In

SAIL has been the subject of several research analyst reports. Arete Research upgraded SailPoint to a "strong sell" rating and set a $16.00 price objective for the company in a research report on Monday, July 7th. Wells Fargo & Company boosted their price objective on SailPoint from $16.00 to $20.00 and gave the company an "equal weight" rating in a research report on Thursday, June 12th. BMO Capital Markets boosted their price objective on SailPoint from $26.00 to $27.00 and gave the company an "outperform" rating in a research report on Thursday, June 12th. Barclays boosted their price objective on SailPoint from $23.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, June 12th. Finally, Mizuho boosted their target price on SailPoint from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $25.47.

SailPoint Trading Down 3.1%

SAIL traded down $0.63 during trading hours on Friday, reaching $19.40. The company's stock had a trading volume of 810,365 shares, compared to its average volume of 2,053,844. SailPoint has a 52 week low of $15.05 and a 52 week high of $26.35. The company's 50-day simple moving average is $21.17.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly 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 business had revenue of $230.47 million during the quarter, compared to the consensus estimate of $225.18 million. The business's revenue was up 22.8% on a year-over-year basis.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Assetmark Inc. acquired a new position in SailPoint in the 1st quarter valued at $32,000. Kayne Anderson Rudnick Investment Management LLC acquired a new position in SailPoint in the 1st quarter valued at $49,000. Amalgamated Bank acquired a new position in SailPoint in the 2nd quarter valued at $71,000. Quarry LP acquired a new position in SailPoint in the 1st quarter valued at $70,000. Finally, Picton Mahoney Asset Management acquired a new position in SailPoint in the 1st quarter valued at $87,000.

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.