SailPoint (NASDAQ:SAIL) Price Target Raised to $20.00

SailPoint (NASDAQ:SAIL) had its target price raised by Mizuho from $19.00 to $20.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts have also recently issued reports on the stock. Roth Capital reiterated a “buy” rating and issued a $21.00 price target (up from $19.00) on shares of SailPoint in a research note on Thursday, September 10th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of SailPoint in a report on Wednesday. Wells Fargo & Company lifted their target price on shares of SailPoint from $19.00 to $22.00 and gave the stock an “overweight” rating in a report on Monday, August 17th. Barclays upped their target price on shares of SailPoint from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. Finally, Oppenheimer started coverage on shares of SailPoint in a report on Wednesday, October 7th. They set an “outperform” rating and a $30.00 price target on the stock. Twenty-one research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.24.

SailPoint Price Performance

NASDAQ:SAIL traded up $0.21 during mid-day trading on Thursday, hitting $20.79. 4,403,122 shares of the company’s stock were exchanged, compared to its average volume of 4,005,044. The business has a fifty day moving average price of $20.04 and a 200 day moving average price of $16.22. SailPoint has a one year low of $10.30 and a one year high of $22.62. The company has a market cap of $11.87 billion, a PE ratio of -61.15, a P/E/G ratio of 2.18 and a beta of 2.08.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The company had revenue of $308.81 million for the quarter. During the same quarter in the previous year, the company earned ($0.02) EPS. The business’s quarterly revenue was up 17.0% on a year-over-year basis. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. On average, equities analysts forecast that SailPoint will post 0.33 EPS for the current fiscal year.

Insider Activity

In related news, Director James Hagan sold 4,205 shares of the firm’s stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $22.50, for a total value of $94,612.50. Following the transaction, the director directly owned 94,125 shares of the company’s stock, valued at approximately $2,117,812.50. This trade represents a 4.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mitra Rezvan sold 4,491 shares of the firm’s stock in a transaction on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $88,517.61. Following the completion of the transaction, the chief accounting officer directly owned 174,340 shares in the company, valued at approximately $3,436,241.40. This represents a 2.51% 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. Over the last 90 days, insiders have sold 513,795 shares of company stock worth $10,286,070. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Wasatch Advisors LP bought a new stake in SailPoint in the second quarter worth $66,173,000. The Manufacturers Life Insurance Company raised its stake in SailPoint by 178.4% during the first quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock valued at $1,397,000 after purchasing an additional 67,601 shares in the last quarter. Bank of America Corp DE bought a new stake in shares of SailPoint in the 2nd quarter worth about $15,661,000. GSA Capital Partners LLP purchased a new stake in shares of SailPoint during the 2nd quarter valued at about $778,000. Finally, Polianta Ltd purchased a new stake in shares of SailPoint during the 2nd quarter valued at about $1,948,000.

About SailPoint

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots. The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.