SailPoint (NASDAQ:SAIL) Price Target Raised to $23.00

SailPoint (NASDAQ:SAIL) had its target price raised by Truist Financial from $18.00 to $23.00 in a research report report published on Wednesday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

SAIL has been the subject of a number of other research reports. Jefferies Financial Group lowered SailPoint from a “buy” rating to a “buy” rating in a report on Wednesday, June 17th. Royal Bank Of Canada lifted their price target on SailPoint from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Friday, August 14th. BTIG Research reaffirmed a “buy” rating and set a $18.00 price objective on shares of SailPoint in a research report on Tuesday, June 9th. DA Davidson initiated coverage on SailPoint in a research report on Monday, August 3rd. They set a “neutral” rating and a $17.00 price objective for the company. Finally, Stephens reiterated an “overweight” rating and issued a $20.00 price objective on shares of SailPoint in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SailPoint has an average rating of “Moderate Buy” and a consensus target price of $20.26.

SailPoint Stock Up 0.7%

NASDAQ SAIL opened at $18.64 on Wednesday. SailPoint has a 52 week low of $10.30 and a 52 week high of $24.00. The stock has a market capitalization of $10.57 billion, a PE ratio of -69.03, a price-to-earnings-growth ratio of 1.94 and a beta of 2.08. The firm has a 50 day moving average of $15.83 and a two-hundred day moving average of $14.65.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The company had revenue of $280.14 million for the quarter. During the same period in the prior year, the company posted $0.01 earnings per share. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, equities research analysts expect that SailPoint will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Chandrasekar Gnanasambandam sold 19,540 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $301,306.80. Following the transaction, the executive vice president directly owned 934,508 shares in the company, valued at approximately $14,410,113.36. This trade represents a 2.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Brian Carolan sold 46,002 shares of SailPoint stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $709,350.84. Following the completion of the transaction, the chief financial officer directly owned 1,707,742 shares in the company, valued at $26,333,381.64. The trade was a 2.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 499,046 shares of company stock valued at $7,959,131 in the last 90 days. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of SAIL. Norges Bank acquired a new position in SailPoint in the fourth quarter valued at $234,681,000. Wasatch Advisors LP acquired a new stake in shares of SailPoint during the second quarter worth about $66,173,000. BlackRock Inc. purchased a new position in shares of SailPoint during the second quarter worth about $65,050,000. UBS Group AG grew its holdings in shares of SailPoint by 116.3% during the third quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after buying an additional 2,219,593 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in SailPoint by 51.0% in the 1st quarter. Stephens Investment Management Group LLC now owns 2,895,700 shares of the company’s stock valued at $38,339,000 after acquiring an additional 978,376 shares during the period.

About SailPoint

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.