SailPoint (NASDAQ:SAIL) Sets New 12-Month Low - Time to Sell?

Key Points

• Shares hit a new 52-week low, trading as low as $12.29 (last ~$12.20) on heavy volume after a prior close of $14.71.
• Analysts maintain an overall Moderate Buy consensus with an average target of $23.44, though several firms have trimmed price targets recently.
• Q3 results showed EPS of $0.08 (in line) and revenue up 22.9% to $294.65M, but a negative net margin of 30.87%; insiders have sold roughly 354,243 shares (~$6.9M) in the past 90 days.

Shares of SailPoint, Inc. (NASDAQ:SAIL - Get Free Report) reached a new 52-week low during trading on Wednesday . The company traded as low as $12.29 and last traded at $12.1990, with a volume of 2302990 shares traded. The stock had previously closed at $14.71.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays cut their price target on shares of SailPoint from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Monday. Berenberg Bank assumed coverage on shares of SailPoint in a report on Tuesday, November 18th. They set a "buy" rating and a $31.70 price objective on the stock. Wells Fargo & Company assumed coverage on SailPoint in a research note on Tuesday, March 3rd. They issued an "overweight" rating and a $17.00 target price for the company. FBN Securities began coverage on SailPoint in a research report on Tuesday, February 24th. They set an "outperform" rating and a $18.00 price target for the company. Finally, TD Cowen dropped 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. Four investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, SailPoint currently has an average rating of "Moderate Buy" and an average target price of $23.44.

SailPoint Stock Performance

The firm's 50 day simple moving average is $16.09 and its 200 day simple moving average is $19.24. The firm has a market capitalization of $6.91 billion and a price-to-earnings ratio of -2.57.

SailPoint (NASDAQ:SAIL - Get Free Report) last issued its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $294.65 million during the quarter. SailPoint had a negative net margin of 30.87% and a positive return on equity of 0.16%. The company's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period last year, the business earned ($4.29) EPS.

Insider Buying and Selling

In other news, President Matt Mills sold 21,345 shares of the business's stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total value of $410,464.35. Following the completion of the transaction, the president owned 1,882,913 shares of the company's stock, valued at $36,208,416.99. The trade was a 1.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark D. Mcclain sold 61,106 shares of the company's stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total value of $1,175,068.38. Following the completion of the sale, the chief executive officer owned 7,139,202 shares in the company, valued at $137,286,854.46. The trade was a 0.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 354,243 shares of company stock worth $6,924,823.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of SAIL. Royal Bank of Canada purchased a new stake in SailPoint in the 1st quarter worth approximately $1,146,000. Goldman Sachs Group Inc. purchased a new position in shares of SailPoint during the 1st quarter valued at approximately $7,546,000. Bank of New York Mellon Corp lifted its stake in shares of SailPoint by 3,022.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 481,908 shares of the company's stock valued at $11,016,000 after purchasing an additional 466,474 shares during the period. Geode Capital Management LLC lifted its stake in shares of SailPoint by 27.7% in the 2nd quarter. Geode Capital Management LLC now owns 1,402,224 shares of the company's stock valued at $32,061,000 after purchasing an additional 303,836 shares during the period. Finally, Police & Firemen s Retirement System of New Jersey purchased a new stake in SailPoint during the second quarter worth $516,000.

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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