Equities analysts forecast that Sailpoint Technologies Holdings Inc (NYSE:SAIL) will post sales of $70.54 million for the current quarter, according to Zacks. Five analysts have provided estimates for Sailpoint Technologies’ earnings, with the lowest sales estimate coming in at $70.17 million and the highest estimate coming in at $71.00 million. Sailpoint Technologies reported sales of $66.42 million in the same quarter last year, which would suggest a positive year over year growth rate of 6.2%. The company is expected to issue its next quarterly earnings report on Wednesday, November 6th.
According to Zacks, analysts expect that Sailpoint Technologies will report full year sales of $280.35 million for the current fiscal year, with estimates ranging from $279.48 million to $281.50 million. For the next year, analysts forecast that the firm will report sales of $323.70 million, with estimates ranging from $310.01 million to $330.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Sailpoint Technologies.
Sailpoint Technologies (NYSE:SAIL) last issued its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.01). The firm had revenue of $63.05 million during the quarter, compared to analysts’ expectations of $60.43 million. Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. Sailpoint Technologies’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.03 earnings per share.
A number of brokerages have recently issued reports on SAIL. Northland Securities reissued a “hold” rating and issued a $23.00 target price on shares of Sailpoint Technologies in a report on Wednesday, June 12th. Royal Bank of Canada reissued a “buy” rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. TheStreet downgraded Sailpoint Technologies from a “c-” rating to a “d+” rating in a report on Thursday, May 9th. ValuEngine raised Sailpoint Technologies from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Finally, Piper Jaffray Companies set a $27.00 price objective on Sailpoint Technologies and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $27.25.
In other news, CEO Mark D. Mcclain sold 56,000 shares of Sailpoint Technologies stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $21.15, for a total value of $1,184,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Howard R. Greenfield sold 26,284 shares of Sailpoint Technologies stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $19.93, for a total value of $523,840.12. The disclosure for this sale can be found here. Insiders have sold a total of 123,444 shares of company stock valued at $2,601,347 in the last 90 days. 4.10% of the stock is currently owned by company insiders.
Hedge funds have recently modified their holdings of the stock. Legal & General Group Plc grew its stake in shares of Sailpoint Technologies by 74.2% in the fourth quarter. Legal & General Group Plc now owns 34,403 shares of the company’s stock worth $808,000 after acquiring an additional 14,649 shares during the last quarter. Amalgamated Bank bought a new position in shares of Sailpoint Technologies in the 4th quarter worth $240,000. Norges Bank bought a new position in shares of Sailpoint Technologies in the 4th quarter worth $34,726,000. Geode Capital Management LLC raised its position in shares of Sailpoint Technologies by 19.5% in the 4th quarter. Geode Capital Management LLC now owns 698,327 shares of the company’s stock worth $16,403,000 after acquiring an additional 114,063 shares in the last quarter. Finally, Hodges Capital Management Inc. bought a new position in shares of Sailpoint Technologies in the 1st quarter worth $4,157,000. 84.86% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE:SAIL traded down $0.07 during midday trading on Wednesday, reaching $21.90. 521,800 shares of the company’s stock traded hands, compared to its average volume of 1,289,491. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 136.88 and a beta of 2.13. Sailpoint Technologies has a one year low of $16.63 and a one year high of $34.60. The stock has a 50 day moving average of $20.93 and a 200 day moving average of $24.34.
Sailpoint Technologies Company Profile
SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.
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