$70.54 Million in Sales Expected for Sailpoint Technologies Holdings Inc (NYSE:SAIL) This Quarter

Equities analysts expect Sailpoint Technologies Holdings Inc (NYSE:SAIL) to post $70.54 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have provided estimates for Sailpoint Technologies’ earnings, with the highest sales estimate coming in at $71.00 million and the lowest estimate coming in at $70.17 million. Sailpoint Technologies posted sales of $66.42 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.2%. The business is scheduled to report its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that Sailpoint Technologies will report full year sales of $280.35 million for the current financial year, with estimates ranging from $279.48 million to $281.50 million. For the next financial year, analysts expect that the company will post sales of $323.70 million, with estimates ranging from $310.01 million to $330.50 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Sailpoint Technologies.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings data on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 negative net margin of 3.39% and a positive return on equity of 1.99%. The business’s quarterly revenue 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 analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and issued a $26.00 target price (down previously from $30.00) on shares of Sailpoint Technologies in a research note on Thursday, May 9th. Oppenheimer decreased their price target on Sailpoint Technologies from $35.00 to $28.00 and set an “outperform” rating on the stock in a report on Thursday, May 9th. Royal Bank of Canada restated a “buy” rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. ValuEngine upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Canaccord Genuity restated a “hold” rating and set a $20.00 price target (down previously from $29.00) on shares of Sailpoint Technologies in a report on Thursday, May 9th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Sailpoint Technologies has a consensus rating of “Buy” and an average price target of $27.25.

NYSE:SAIL traded down $0.07 on Wednesday, reaching $21.90. The stock had a trading volume of 521,800 shares, compared to its average volume of 1,289,491. The company has a 50-day moving average of $20.93 and a 200 day moving average of $24.34. The stock has a market cap of $1.90 billion, a P/E ratio of 136.88 and a beta of 2.13. Sailpoint Technologies has a 12-month low of $16.63 and a 12-month high of $34.60.

In other news, CRO Howard R. Greenfield sold 26,284 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $19.93, for a total transaction of $523,840.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark D. Mcclain sold 56,000 shares of the stock in a transaction 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 disclosure for this sale can be found here. Insiders sold a total of 123,444 shares of company stock worth $2,601,347 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently bought and sold shares of SAIL. Legal & General Group Plc raised its holdings in shares of Sailpoint Technologies by 74.2% during the 4th 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 in the last quarter. Amalgamated Bank purchased a new stake in shares of Sailpoint Technologies during the 4th quarter worth approximately $240,000. Norges Bank purchased a new stake in shares of Sailpoint Technologies during the 4th quarter worth approximately $34,726,000. Geode Capital Management LLC raised its holdings in shares of Sailpoint Technologies by 19.5% during 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. purchased a new stake in shares of Sailpoint Technologies during the 1st quarter worth approximately $4,157,000. 84.86% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Sailpoint Technologies (NYSE:SAIL)

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