Sailpoint Technologies (SAIL) Upgraded to “Buy” at Zacks Investment Research

Sailpoint Technologies (NYSE:SAIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Saturday. The firm presently has a $22.00 target price on the stock. Zacks Investment Research‘s target price would suggest a potential upside of 6.33% from the stock’s current price.

According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include Open Identity Platform, Cloud-based Identity Governance, On-premises Identity Governance, Data Access Governance, Identity Analytics, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “

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A number of other research analysts have also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $25.00 target price (up previously from $23.50) on shares of Sailpoint Technologies in a report on Monday, March 26th. KeyCorp increased their target price on shares of Sailpoint Technologies from $22.00 to $26.00 and gave the stock an “overweight” rating in a report on Monday, March 19th. Royal Bank of Canada reissued a “buy” rating and issued a $21.00 target price on shares of Sailpoint Technologies in a report on Friday, February 23rd. Canaccord Genuity increased their target price on shares of Sailpoint Technologies from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, February 23rd. Finally, Jefferies Group reissued a “buy” rating and issued a $23.00 target price on shares of Sailpoint Technologies in a report on Thursday, February 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Sailpoint Technologies has an average rating of “Buy” and an average target price of $21.11.

SAIL stock opened at $20.69 on Friday. The stock has a market capitalization of $1,770.11 and a PE ratio of 517.25. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.99 and a quick ratio of 1.99. Sailpoint Technologies has a 12 month low of $12.82 and a 12 month high of $23.93.

Sailpoint Technologies (NYSE:SAIL) last posted its earnings results on Wednesday, February 21st. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The company had revenue of $67.77 million during the quarter, compared to the consensus estimate of $55.75 million. analysts anticipate that Sailpoint Technologies will post 0.05 EPS for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC bought a new position in Sailpoint Technologies in the 4th quarter valued at approximately $22,033,000. Cortina Asset Management LLC bought a new position in Sailpoint Technologies in the 4th quarter valued at approximately $20,497,000. Thrivent Financial For Lutherans bought a new position in Sailpoint Technologies in the 4th quarter valued at approximately $20,272,000. Keenan Capital LLC bought a new position in Sailpoint Technologies in the 4th quarter valued at approximately $13,050,000. Finally, BlackRock Inc. bought a new position in Sailpoint Technologies in the 4th quarter valued at approximately $8,664,000. Institutional investors and hedge funds own 25.03% of the company’s stock.

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Sailpoint Technologies Company Profile

SailPoint Technologies Holdings, Inc is a provider of enterprise identity governance solutions. The Company is focused on providing SailPoint that empowers customers to efficiently and securely govern the digital identities of employees, contractors, business partners and other users, and manage their constantly changing access rights to enterprise applications and data.

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