Northland Securities reiterated their hold rating on shares of Sailpoint Technologies (NYSE:SAIL) in a report released on Wednesday, AnalystRatings.com reports. They currently have a $23.00 price target on the stock.
“We particularly heard about higher end needs such as flexible multi factor, compliance and hybrid deployments. So clearly this is not a dead market, but one where the capabilities of SAIL taper off as a customer size decreases.”,” Northland Securities’ analyst wrote.
A number of other research analysts also recently issued reports on SAIL. Monness Crespi & Hardt reissued a buy rating and issued a $37.00 price objective (up from $30.00) on shares of Sailpoint Technologies in a research note on Wednesday, February 20th. Piper Jaffray Companies reissued an overweight rating and issued a $35.00 price objective on shares of Sailpoint Technologies in a research note on Wednesday, March 6th. Zacks Investment Research raised Sailpoint Technologies from a hold rating to a buy rating and set a $33.00 price target on the stock in a research note on Thursday, March 7th. Summit Insights assumed coverage on Sailpoint Technologies in a research note on Wednesday, April 17th. They set a buy rating and a $35.00 price target on the stock. Finally, Needham & Company LLC reiterated a buy rating and issued a $26.00 price target (down previously from $30.00) on shares of Sailpoint Technologies in a report on Thursday, May 9th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $28.93.
Sailpoint Technologies (NYSE:SAIL) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $60.58 million for the quarter, compared to the consensus estimate of $60.26 million. Sailpoint Technologies had a positive return on equity of 3.26% and a negative net margin of 2.14%. Sell-side analysts predict that Sailpoint Technologies will post -0.07 earnings per share for the current fiscal year.
In other Sailpoint Technologies news, COO James Cameron Mcmartin sold 14,000 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $18.94, for a total transaction of $265,160.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Mark D. Mcclain sold 33,000 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $28.89, for a total value of $953,370.00. The disclosure for this sale can be found here. Insiders sold a total of 123,200 shares of company stock worth $3,367,598 in the last 90 days. 4.10% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of SAIL. Jericho Capital Asset Management L.P. bought a new stake in Sailpoint Technologies during the 1st quarter worth approximately $70,357,000. Norges Bank bought a new stake in Sailpoint Technologies during the 4th quarter worth approximately $34,726,000. TimesSquare Capital Management LLC bought a new stake in Sailpoint Technologies during the 1st quarter worth approximately $26,396,000. Wellington Management Group LLP increased its holdings in Sailpoint Technologies by 87.7% during the 1st quarter. Wellington Management Group LLP now owns 1,725,331 shares of the company’s stock worth $49,552,000 after purchasing an additional 806,093 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Sailpoint Technologies by 14.2% during the 4th quarter. BlackRock Inc. now owns 5,674,590 shares of the company’s stock worth $133,296,000 after purchasing an additional 705,830 shares in the last quarter. 85.99% of the stock is owned by hedge funds and other institutional investors.
About Sailpoint Technologies
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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