SailPoint (NASDAQ:SAIL) Issues 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 quarterly earnings results on Tuesday. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.03, Zacks reports. The business had revenue of $264.36 million for the quarter, compared to analyst estimates of $243.41 million. The firm's revenue for the quarter was up 32.9% on a year-over-year basis. SailPoint updated its FY 2026 guidance to 0.200-0.220 EPS and its Q3 2026 guidance to 0.050-0.06 EPS.

SailPoint Stock Up 3.7%

Shares of NASDAQ:SAIL traded up $0.77 during midday trading on Friday, hitting $21.61. The company had a trading volume of 3,132,030 shares, compared to its average volume of 2,622,697. SailPoint has a 12 month low of $15.05 and a 12 month high of $26.35. The firm has a fifty day simple moving average of $20.60 and a 200 day simple moving average of $19.95.

Analysts Set New Price Targets

A number of brokerages have commented on SAIL. BMO Capital Markets decreased their price objective on SailPoint from $27.00 to $25.00 and set an "outperform" rating on the stock in a research report on Tuesday. Cantor Fitzgerald began coverage on SailPoint in a research report on Monday, June 30th. They issued an "overweight" rating and a $29.00 price objective on the stock. Royal Bank Of Canada reiterated an "outperform" rating and issued a $29.00 price objective (up from $27.00) on shares of SailPoint in a research report on Thursday, June 12th. JPMorgan Chase & Co. upgraded SailPoint from a "neutral" rating to an "overweight" rating and set a $26.00 price objective on the stock in a research report on Wednesday, August 13th. Finally, Barclays increased 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. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, three have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, SailPoint has a consensus rating of "Moderate Buy" and an average price target of $25.48.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of SailPoint in the 2nd quarter worth $45,000. BNP Paribas Financial Markets bought a new position in shares of SailPoint in the 2nd quarter worth $79,000. California State Teachers Retirement System bought a new position in shares of SailPoint in the 2nd quarter worth $87,000. Osaic Holdings Inc. boosted its position in shares of SailPoint by 60.7% in the 2nd quarter. Osaic Holdings Inc. now owns 12,661 shares of the company's stock worth $289,000 after purchasing an additional 4,780 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of SailPoint by 35.9% in the 2nd quarter. Captrust Financial Advisors now owns 21,338 shares of the company's stock worth $488,000 after purchasing an additional 5,637 shares during the last quarter.

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.