SailPoint (NASDAQ:SAIL) Earns Neutral Rating from Bank of America

Key Points

• Bank of America reaffirmed its neutral rating on SailPoint and kept a $16 price target, implying about 10.96% upside from the current share price.
• SailPoint’s latest quarterly results beat expectations, with EPS of $0.05 versus the $0.04 estimate and revenue up 21.5% year over year to $280.14 million.
• Analyst sentiment remains broadly positive despite mixed views: the stock has an average rating of Moderate Buy with an average price target of $20.37, while the shares were trading down 2.0% at $14.42.

SailPoint (NASDAQ:SAIL - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Bank of America in a note issued to investors on Friday,Benzinga reports. They currently have a $16.00 price target on the stock. Bank of America's price objective suggests a potential upside of 10.96% from the company's current price.

SAIL has been the topic of a number of other reports. Royal Bank Of Canada lifted their price target on SailPoint from $17.00 to $19.00 and gave the stock an "outperform" rating in a research note on Wednesday. Roth Mkm initiated coverage on SailPoint in a research note on Wednesday, May 20th. They issued a "buy" rating and a $19.00 price target on the stock. TD Cowen lowered their price target on SailPoint from $30.00 to $25.00 and set a "buy" rating on the stock in a research note on Tuesday, February 24th. Robert W. Baird lowered their price target on SailPoint from $26.00 to $22.00 and set an "outperform" rating on the stock in a research note on Thursday, March 19th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $18.00 price target on shares of SailPoint in a research note on Tuesday. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $20.37.

SailPoint Trading Down 2.0%

Shares of SAIL opened at $14.42 on Friday. The stock's 50 day moving average is $13.75 and its two-hundred day moving average is $15.91. The firm has a market cap of $8.18 billion, a P/E ratio of -53.41 and a beta of 2.02. SailPoint has a 12 month low of $10.30 and a 12 month high of $24.95.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. The firm had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The business's revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 earnings per share. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Equities research analysts forecast that SailPoint will post 0.33 EPS for the current year.

Insider Activity

In related news, CEO Mark D. Mcclain sold 92,874 shares of SailPoint stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $1,064,336.04. Following the transaction, the chief executive officer owned 8,305,324 shares in the company, valued at approximately $95,179,013.04. This trade represents a 1.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Christopher Schmitt sold 18,813 shares of SailPoint stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $215,596.98. Following the transaction, the general counsel owned 1,355,551 shares in the company, valued at approximately $15,534,614.46. The trade was a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 534,449 shares of company stock valued at $6,569,848 in the last 90 days. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On SailPoint

A number of institutional investors have recently added to or reduced their stakes in SAIL. Royal Bank of Canada purchased a new position in SailPoint during the first quarter worth approximately $1,146,000. Goldman Sachs Group Inc. purchased a new stake in SailPoint in the first quarter valued at $7,546,000. JPMorgan Chase & Co. purchased a new stake in SailPoint in the second quarter valued at $692,000. Rhumbline Advisers purchased a new stake in SailPoint in the second quarter valued at $1,047,000. Finally, New York State Common Retirement Fund purchased a new stake in SailPoint in the second quarter valued at $572,000.

SailPoint Company Profile

SailPoint Technologies Holdings, Inc NASDAQ: SAIL is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company's flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.

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