Sailpoint (NYSE:SAIL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

Sailpoint (NYSE:SAIL - Free Report) had its price target raised by Wells Fargo & Company from $16.00 to $20.00 in a research note published on Thursday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

A number of other brokerages have also recently commented on SAIL. Jefferies Financial Group cut their price target on shares of Sailpoint from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Royal Bank of Canada started coverage on shares of Sailpoint in a report on Monday, March 10th. They issued an "outperform" rating and a $27.00 target price on the stock. BTIG Research began coverage on Sailpoint in a report on Monday, March 10th. They set a "buy" rating and a $27.00 price target for the company. Barclays set a $23.00 price target on Sailpoint and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Finally, Morgan Stanley cut their price objective on Sailpoint from $26.00 to $25.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $26.50.

Sailpoint Stock Performance

NYSE SAIL traded up $0.77 during trading hours on Thursday, hitting $23.30. 3,181,015 shares of the company traded hands, compared to its average volume of 2,000,391. The stock has a 50-day simple moving average of $17.91. Sailpoint has a twelve month low of $15.05 and a twelve month high of $26.35.

Sailpoint (NYSE:SAIL - Get Free Report) last announced its quarterly earnings data on Wednesday, March 26th. The company reported ($4.29) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.01) by ($4.28). The firm had revenue of $240.10 million during the quarter, compared to the consensus estimate of $229.69 million.

Institutional Trading of Sailpoint

Several hedge funds have recently added to or reduced their stakes in SAIL. Assetmark Inc. acquired a new position in Sailpoint in the 1st quarter valued at $32,000. Kayne Anderson Rudnick Investment Management LLC bought a new stake in shares of Sailpoint in the first quarter valued at about $49,000. Quarry LP acquired a new position in shares of Sailpoint in the first quarter valued at about $70,000. Picton Mahoney Asset Management bought a new position in Sailpoint during the first quarter worth about $87,000. Finally, PNC Financial Services Group Inc. acquired a new stake in Sailpoint in the 1st quarter worth about $150,000.

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.