Sailpoint Technologies Holdings Inc (NYSE:SAIL) Receives $26.17 Consensus PT from Analysts

Shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) have been given a consensus rating of “Buy” by the sixteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

Several research firms have weighed in on SAIL. SunTrust Banks began coverage on shares of Sailpoint Technologies in a research note on Wednesday, October 2nd. They issued a “buy” rating and a $25.00 price target for the company. Zacks Investment Research cut shares of Sailpoint Technologies from a “buy” rating to a “hold” rating in a report on Friday, October 4th. Rosenblatt Securities began coverage on shares of Sailpoint Technologies in a report on Monday, September 9th. They set a “neutral” rating and a $23.00 price objective for the company. ValuEngine upgraded shares of Sailpoint Technologies from a “hold” rating to a “buy” rating in a report on Tuesday, July 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Sailpoint Technologies in a report on Thursday, August 8th.

In related news, CEO Mark D. Mcclain sold 56,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $21.15, for a total transaction of $1,184,400.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director William G. Bock sold 4,000 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $21.21, for a total transaction of $84,840.00. Following the transaction, the director now owns 97,347 shares in the company, valued at $2,064,729.87. The disclosure for this sale can be found here. Insiders have sold 267,250 shares of company stock valued at $5,361,460 over the last quarter. Corporate insiders own 4.10% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Optimum Investment Advisors boosted its stake in Sailpoint Technologies by 17.8% in the second quarter. Optimum Investment Advisors now owns 5,950 shares of the company’s stock valued at $119,000 after acquiring an additional 900 shares during the last quarter. HM Payson & Co. bought a new stake in shares of Sailpoint Technologies in the second quarter valued at approximately $25,000. Manchester Financial Inc. bought a new stake in shares of Sailpoint Technologies in the second quarter valued at approximately $27,000. Aperio Group LLC bought a new stake in shares of Sailpoint Technologies in the second quarter valued at approximately $41,000. Finally, Bluestein R H & Co. raised its position in shares of Sailpoint Technologies by 21.0% in the second quarter. Bluestein R H & Co. now owns 12,100 shares of the company’s stock valued at $242,000 after purchasing an additional 2,100 shares during the period. Institutional investors and hedge funds own 92.57% of the company’s stock.

SAIL traded up $0.31 during midday trading on Friday, hitting $18.64. The company had a trading volume of 6,601 shares, compared to its average volume of 1,569,724. Sailpoint Technologies has a 52 week low of $16.63 and a 52 week high of $32.25. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 116.50 and a beta of 2.02. The stock’s 50 day moving average price is $20.27 and its 200 day moving average price is $21.60.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Tuesday, August 6th. The company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). Sailpoint Technologies had a negative net margin of 3.39% and a positive return on equity of 1.99%. The company had revenue of $63.05 million during the quarter, compared to the consensus estimate of $60.43 million. During the same period last year, the firm posted $0.03 earnings per share. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Sell-side analysts forecast that Sailpoint Technologies will post -0.09 EPS for the current fiscal year.

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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Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

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