SailPoint (NASDAQ:SAIL) Receives Overweight Rating from Stephens

Key Points

• Stephens reiterated an Overweight rating on SailPoint and kept a $20 price target, implying about 45% upside from the current share price.
• SailPoint’s latest quarterly results beat expectations, with EPS of $0.05 versus $0.04 expected and revenue up 21.5% year over year to $280.14 million.
• The stock traded at $13.78 on Wednesday, while analyst sentiment remained broadly positive with an average Moderate Buy rating and an average price target of $20.08.

SailPoint (NASDAQ:SAIL - Get Free Report)'s stock had its "overweight" rating restated by research analysts at Stephens in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $20.00 target price on the stock. Stephens' target price indicates a potential upside of 45.10% from the stock's current price.

Other research analysts have also issued reports about the company. Jefferies Financial Group lowered SailPoint from a "buy" rating to a "buy" rating in a report on Wednesday. Barclays cut their price objective on SailPoint from $22.00 to $19.00 and set an "overweight" rating on the stock in a report on Wednesday, June 10th. Roth Mkm started coverage on SailPoint in a report on Wednesday, May 20th. They issued a "buy" rating and a $19.00 price objective on the stock. TD Cowen reissued a "buy" rating on shares of SailPoint in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on SailPoint from $17.00 to $19.00 and gave the company an "overweight" rating in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, three have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.08.

SailPoint Price Performance

SailPoint stock traded down $0.31 during midday trading on Wednesday, reaching $13.78. The company's stock had a trading volume of 1,170,310 shares, compared to its average volume of 3,439,616. The stock's 50-day simple moving average is $13.82 and its 200-day simple moving average is $15.82. SailPoint has a 52-week low of $10.30 and a 52-week high of $24.95. The stock has a market capitalization of $7.82 billion, a P/E ratio of -51.05, a PEG ratio of 2.04 and a beta of 2.02.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company had revenue of $280.14 million during the quarter. During the same quarter last year, the business posted $0.01 earnings per share. The company's quarterly 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. As a group, equities research analysts expect that SailPoint will post 0.32 earnings per share for the current fiscal year.

Insider Activity

In related news, General Counsel Christopher Schmitt sold 18,813 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $215,596.98. Following the sale, the general counsel directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, CFO Brian Carolan sold 47,444 shares of the firm's stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $543,708.24. Following the sale, the chief financial officer directly owned 1,786,212 shares in the company, valued at approximately $20,469,989.52. This trade represents a 2.59% 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. Insiders sold 534,449 shares of company stock valued at $6,569,848 over the last 90 days. Company insiders own 1.70% of the company's stock.

Institutional Trading of SailPoint

Several institutional investors have recently bought and sold shares of SAIL. Norges Bank acquired a new stake in SailPoint in the fourth quarter valued at approximately $234,681,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in SailPoint in the second quarter valued at approximately $64,453,000. UBS Group AG grew its holdings in SailPoint by 116.3% in the third quarter. UBS Group AG now owns 4,128,038 shares of the company's stock valued at $91,147,000 after purchasing an additional 2,219,593 shares during the period. Artisan Partners Limited Partnership acquired a new stake in SailPoint in the fourth quarter valued at approximately $35,203,000. Finally, NZS Capital LLC grew its holdings in SailPoint by 186.6% in the third quarter. NZS Capital LLC now owns 1,747,161 shares of the company's stock valued at $38,577,000 after purchasing an additional 1,137,643 shares during the period.

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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