SailPoint (NASDAQ:SAIL) Earns "Overweight" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reiterated an Overweight rating on SailPoint and maintained a $23 price target, implying about 66.9% upside from the prior close.
• Other analysts remain broadly positive, with SailPoint carrying a Moderate Buy consensus and an average price target of $20.08, though JPMorgan recently cut its target to $22 from $26.
• SailPoint reported better-than-expected quarterly results, earning $0.05 per share on $280.14 million in revenue, with revenue up 21.5% year over year; the stock was trading at $13.78 when the article was published.

SailPoint (NASDAQ:SAIL - Get Free Report)'s stock had its "overweight" rating restated by analysts at Cantor Fitzgerald in a report released on Wednesday,Benzinga reports. They currently have a $23.00 price target on the stock. Cantor Fitzgerald's price objective would suggest a potential upside of 66.86% from the company's previous close.

Several other research firms also recently commented on SAIL. Royal Bank Of Canada reissued an "outperform" rating and set a $19.00 target price on shares of SailPoint in a research report on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of SailPoint from $26.00 to $22.00 and set an "overweight" rating on the stock in a research report on Thursday, March 19th. BMO Capital Markets reissued an "outperform" rating on shares of SailPoint in a research report on Wednesday, June 10th. FBN Securities initiated coverage on shares of SailPoint in a research report on Tuesday, February 24th. They set an "outperform" rating and a $18.00 target price on the stock. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $19.00 target price on shares of SailPoint in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, SailPoint presently has an average rating of "Moderate Buy" and a consensus price target of $20.08.

SailPoint Stock Performance

Shares of NASDAQ SAIL traded down $0.31 during mid-day trading on Wednesday, reaching $13.78. The company had a trading volume of 1,170,310 shares, compared to its average volume of 3,439,616. SailPoint has a twelve month low of $10.30 and a twelve month high of $24.95. The stock has a market capitalization of $7.82 billion, a PE ratio of -51.05, a price-to-earnings-growth ratio of 2.04 and a beta of 2.02. The stock's 50 day moving average is $13.82 and its 200-day moving average is $15.82.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The business had revenue of $280.14 million for the quarter. During the same period last year, the company posted $0.01 earnings per share. The company's revenue was up 21.5% compared to the same quarter last year. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, sell-side analysts anticipate that SailPoint will post 0.32 EPS for the current year.

Insider Activity at SailPoint

In other SailPoint news, insider Abby Payne sold 16,930 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total transaction of $194,017.80. Following the completion of the sale, the insider directly owned 930,506 shares in the company, valued at $10,663,598.76. This represents a 1.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total transaction of $215,596.98. Following the sale, the general counsel owned 1,355,551 shares of the company's stock, valued at $15,534,614.46. This trade represents a 1.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Over the last three months, insiders sold 534,449 shares of company stock valued at $6,569,848. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On SailPoint

Hedge funds have recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd bought a new stake in shares of SailPoint in the third quarter valued at about $31,000. State of Wyoming bought a new stake in shares of SailPoint in the second quarter valued at about $45,000. Palladiem LLC bought a new stake in shares of SailPoint in the fourth quarter valued at about $42,000. Kestra Advisory Services LLC bought a new stake in shares of SailPoint in the fourth quarter valued at about $42,000. Finally, CWM LLC lifted its stake in shares of SailPoint by 315.6% in the fourth quarter. CWM LLC now owns 2,656 shares of the company's stock valued at $54,000 after buying an additional 2,017 shares during the period.

About SailPoint

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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