SailPoint (NASDAQ:SAIL) Shares Gap Down - Should You Sell?

Key Points

• SailPoint shares gapped down significantly, opening at $19.72 after closing at $22.39, with a last traded price of $20.82.
• Analysts have set new price targets for SailPoint, with BMO Capital Markets raising their target to $27.00 and JPMorgan Chase increasing theirs to $26.00, reflecting a generally optimistic outlook.
• The company's recent earnings report exceeded expectations with an EPS of $0.07, alongside a year-over-year revenue increase of 32.9%.

SailPoint, Inc. (NASDAQ:SAIL - Get Free Report)'s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $22.39, but opened at $19.72. SailPoint shares last traded at $20.82, with a volume of 3,545,136 shares.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SAIL. Barclays increased 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. Arete assumed coverage on SailPoint in a report on Monday, July 7th. They set a "sell" rating and a $16.00 target price on the stock. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $29.00 price objective (up from $27.00) on shares of SailPoint in a report on Thursday, June 12th. BMO Capital Markets dropped their target price on shares of SailPoint from $27.00 to $25.00 and set an "outperform" rating for the company in a research report on Tuesday. Finally, Arete Research upgraded shares of SailPoint to a "strong sell" rating and set a $16.00 price objective for the company in a research note on Monday, July 7th. 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $25.48.

SailPoint Price Performance

The stock's 50 day simple moving average is $20.60 and its two-hundred day simple moving average is $19.95.

SailPoint (NASDAQ:SAIL - Get Free Report) last released its earnings results on Tuesday, September 9th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $264.36 million for the quarter, compared to the consensus estimate of $243.41 million. The firm's quarterly revenue was up 32.9% on a year-over-year basis. SailPoint has set its FY 2026 guidance at 0.200-0.220 EPS. Q3 2026 guidance at 0.050-0.06 EPS.

Institutional Investors Weigh In On SailPoint

Large investors have recently bought and sold shares of the business. Assetmark Inc. bought a new position in SailPoint during the first quarter valued at $32,000. Loomis Sayles & Co. L P purchased a new stake in shares of SailPoint during the second quarter valued at about $42,000. State of Wyoming purchased a new stake in shares of SailPoint during the second quarter valued at about $45,000. Kayne Anderson Rudnick Investment Management LLC purchased a new position in shares of SailPoint in the 1st quarter valued at approximately $49,000. Finally, Amalgamated Bank purchased a new position in shares of SailPoint in the 2nd quarter valued at approximately $71,000.

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.