SailPoint (NASDAQ:SAIL) Price Target Raised to $22.00

SailPoint (NASDAQ:SAIL) had its price target upped by Bank of America from $19.00 to $22.00 in a research report report published on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts also recently issued reports on the company. Morgan Stanley lifted their target price on SailPoint from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, August 20th. BTIG Research restated a “buy” rating and issued a $21.00 price target on shares of SailPoint in a research note on Wednesday, September 9th. Mizuho set a $19.00 price objective on shares of SailPoint in a report on Wednesday, September 9th. Wolfe Research reaffirmed an “outperform” rating and set a $18.00 price objective on shares of SailPoint in a report on Wednesday, June 10th. Finally, Truist Financial lifted their price objective on shares of SailPoint from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, August 19th. Nineteen research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $21.38.

SailPoint Stock Performance

Shares of SailPoint stock opened at $19.83 on Friday. SailPoint has a fifty-two week low of $10.30 and a fifty-two week high of $24.00. The company has a market capitalization of $11.32 billion, a P/E ratio of -58.32, a P/E/G ratio of 2.18 and a beta of 2.17. The company has a fifty day moving average of $17.79 and a 200 day moving average of $15.24.

SailPoint (NASDAQ:SAIL) last posted its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $308.81 million for the quarter. During the same period in the prior year, the business earned ($0.02) earnings per share. SailPoint’s revenue was up 17.0% compared to the same quarter last year. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Analysts forecast that SailPoint will post 0.33 EPS for the current year.

Insider Transactions at SailPoint

In related news, CEO Mark McClain sold 93,260 shares of the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $1,438,069.20. Following the sale, the chief executive officer directly owned 8,093,870 shares in the company, valued at approximately $124,807,475.40. The trade was a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the business’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $709,350.84. Following the completion of the sale, the chief financial officer owned 1,707,742 shares in the company, valued at $26,333,381.64. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last ninety days, insiders sold 491,559 shares of company stock valued at $7,809,391. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of SAIL. Palladiem LLC bought a new stake in SailPoint in the fourth quarter worth $42,000. Gables Capital Management Inc. purchased a new stake in SailPoint during the second quarter valued at $29,000. Northwestern Mutual Wealth Management Co. bought a new position in SailPoint during the second quarter valued at $50,000. State of Wyoming bought a new position in SailPoint during the second quarter valued at $56,000. Finally, Legal & General Group Plc bought a new position in SailPoint during the second quarter valued at $94,000.

SailPoint Company Profile

SailPoint Technologies, Inc (NASDAQ: SAIL) is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.