Wolfe Research Upgrades SailPoint (NASDAQ:SAIL) to Strong-Buy

Key Points

• Wolfe Research has upgraded SailPoint (NASDAQ:SAIL) to a "strong-buy" rating, indicating strong positive sentiment from analysts.
• SailPoint's stock has recently experienced a 3.8% decline and currently trades at $21.82, with a 52-week price range of $15.05 to $26.35.
• Insider transactions revealed that CEO Mark D. Mcclain sold 175,425 shares, while other executives also reduced their holdings, signaling potential changes in stakeholder confidence.

SailPoint (NASDAQ:SAIL - Get Free Report) was upgraded by research analysts at Wolfe Research to a "strong-buy" rating in a research note issued to investors on Monday,Zacks.com reports.

Several other equities analysts have also issued reports on SAIL. Arete began coverage on shares of SailPoint in a report on Monday, July 7th. They issued a "sell" rating and a $16.00 target price on the stock. Cantor Fitzgerald initiated coverage on SailPoint in a research note on Monday, June 30th. They issued an "overweight" rating and a $29.00 price objective on the stock. Mizuho upped their target price on SailPoint from $24.00 to $25.00 and gave the company a "neutral" rating in a research report on Tuesday, September 30th. Scotiabank initiated coverage on SailPoint in a research note on Wednesday, September 3rd. They set a "sector outperform" rating and a $25.00 target price for the company. Finally, Stephens raised SailPoint to a "strong-buy" rating in a research note on Tuesday, August 12th. Two analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $25.64.

SailPoint Stock Down 3.8%

SAIL stock opened at $21.82 on Monday. SailPoint has a 52-week low of $15.05 and a 52-week high of $26.35. The company has a fifty day moving average price of $21.55 and a 200-day moving average price of $20.20.

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

Insider Transactions at SailPoint

In related news, CEO Mark D. Mcclain sold 175,425 shares of SailPoint stock in a transaction on Thursday, October 9th. The shares were sold at an average price of $22.42, for a total value of $3,933,028.50. Following the completion of the sale, the chief executive officer owned 7,200,308 shares of the company's stock, valued at approximately $161,430,905.36. This trade represents a 2.38% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Matt Mills sold 61,279 shares of the company's stock in a transaction on Thursday, October 9th. The stock was sold at an average price of $22.42, for a total transaction of $1,373,875.18. Following the transaction, the president owned 1,904,258 shares in the company, valued at approximately $42,693,464.36. The trade was a 3.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,026,454 shares of company stock valued at $23,056,195 in the last 90 days.

Hedge Funds Weigh In On SailPoint

A number of hedge funds have recently added to or reduced their stakes in the stock. Stephens Investment Management Group LLC bought a new stake in SailPoint during the 1st quarter worth approximately $23,213,000. Allianz Asset Management GmbH purchased a new stake in SailPoint in the 1st quarter valued at $3,496,000. GW&K Investment Management LLC bought a new position in SailPoint during the 1st quarter valued at $2,173,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in SailPoint during the 1st quarter worth $1,683,000. Finally, Assetmark Inc. bought a new stake in shares of SailPoint in the 1st quarter worth $32,000.

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.

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