SailPoint (NASDAQ:SAIL) Shares Gap Down - Here's Why

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) shares 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.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SAIL shares. Barclays increased their target price on SailPoint from $23.00 to $25.00 and gave the stock an "overweight" rating in a research note on Thursday, June 12th. The Goldman Sachs Group reiterated a "neutral" rating on shares of SailPoint in a research note on Wednesday, June 11th. 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. BTIG Research reiterated a "buy" rating and issued a $29.00 target price on shares of SailPoint in a research note on Tuesday. Finally, 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. One investment 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.48.

SailPoint Stock Up 3.7%

The stock has a 50 day moving average price of $20.60 and a 200 day moving average price of $19.98.

SailPoint (NASDAQ:SAIL - Get Free Report) last posted its quarterly earnings data on Tuesday, September 9th. The company reported $0.07 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. The firm had revenue of $264.36 million during the quarter, compared to the consensus estimate of $243.41 million. SailPoint's 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 Trading of SailPoint

A number of hedge funds and other institutional investors have recently modified their holdings of SAIL. Assetmark Inc. bought a new stake in shares of SailPoint in the 1st quarter worth $32,000. Loomis Sayles & Co. L P acquired a new stake in shares of SailPoint during the second quarter worth $42,000. State of Wyoming purchased a new stake in shares of SailPoint during the second quarter valued at $45,000. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of SailPoint during the first quarter valued at $49,000. Finally, Quarry LP purchased a new stake in shares of SailPoint during the first quarter valued at $70,000.

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.