SailPoint (NASDAQ:SAIL) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Key Points

• SailPoint reported earnings of $0.07 per share for the latest quarter, exceeding analysts' expectations of $0.04.
• Analysts have mixed ratings for SailPoint; while Barclays and Cantor Fitzgerald gave it higher price targets of $25.00 and $29.00 respectively, others suggest a "Strong Sell" rating.
• Institutional investors have shown increased interest, with several hedge funds purchasing new stakes in SailPoint during the 2nd quarter, including a notable purchase by California State Teachers Retirement System.

SailPoint (NASDAQ:SAIL - Get Free Report) released its earnings results on Tuesday. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03, Zacks reports. The company had revenue of $264.36 million for the quarter, compared to the consensus estimate of $243.41 million. The company's revenue was up 32.9% compared to the same quarter last year. SailPoint updated its FY 2026 guidance to 0.200-0.220 EPS and its Q3 2026 guidance to 0.050-0.06 EPS.

SailPoint Price Performance

Shares of SailPoint stock traded up $0.77 on Friday, hitting $21.61. The stock had a trading volume of 3,132,030 shares, compared to its average volume of 2,204,798. SailPoint has a twelve month low of $15.05 and a twelve month high of $26.35. The business's 50 day moving average is $20.61 and its two-hundred day moving average is $19.97.

Analyst Ratings Changes

Several analysts recently issued reports on the company. BMO Capital Markets dropped their target price on SailPoint from $27.00 to $25.00 and set an "outperform" rating on the stock in a report on Tuesday. BTIG Research reissued a "buy" rating and set a $29.00 price target on shares of SailPoint in a research report on Tuesday. Mizuho boosted their price target on SailPoint from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. Cantor Fitzgerald began coverage on SailPoint in a research report on Monday, June 30th. They set an "overweight" rating and a $29.00 price target on the stock. Finally, Barclays boosted their price target on SailPoint from $23.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, June 12th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat, SailPoint currently has a consensus rating of "Moderate Buy" and an average target price of $25.48.

Hedge Funds Weigh In On SailPoint

Institutional investors and hedge funds have recently made changes to their positions in the company. State of Wyoming acquired a new position in shares of SailPoint in the second quarter valued at approximately $45,000. BNP Paribas Financial Markets acquired a new position in shares of SailPoint in the second quarter valued at approximately $79,000. California State Teachers Retirement System acquired a new position in shares of SailPoint in the second quarter valued at approximately $87,000. Osaic Holdings Inc. grew its position in shares of SailPoint by 60.7% in the second quarter. Osaic Holdings Inc. now owns 12,661 shares of the company's stock valued at $289,000 after purchasing an additional 4,780 shares during the last quarter. Finally, Captrust Financial Advisors grew its position in shares of SailPoint by 35.9% in the second quarter. Captrust Financial Advisors now owns 21,338 shares of the company's stock valued at $488,000 after purchasing an additional 5,637 shares during the last quarter.

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.