Sailpoint Technologies Holdings Inc (NYSE:SAIL) Receives $26.92 Consensus PT from Analysts

Shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) have been assigned an average recommendation of “Buy” from the seventeen ratings firms that are covering the stock, MarketBeat reports. Seven analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $26.92.

A number of research analysts have recently weighed in on the company. Wedbush assumed coverage on Sailpoint Technologies in a research report on Thursday, November 7th. They set an “outperform” rating and a $32.00 price objective on the stock. Jefferies Financial Group lifted their price objective on Sailpoint Technologies from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Thursday, November 7th. Piper Jaffray Companies assumed coverage on Sailpoint Technologies in a research report on Friday, November 8th. They set an “overweight” rating and a $30.00 price objective on the stock. Rosenblatt Securities reaffirmed a “hold” rating and set a $23.00 price objective on shares of Sailpoint Technologies in a research report on Thursday, November 7th. Finally, Canaccord Genuity lowered their price objective on Sailpoint Technologies from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th.

Shares of SAIL stock traded down $0.26 during trading hours on Friday, reaching $23.83. 40,875 shares of the company traded hands, compared to its average volume of 946,437. Sailpoint Technologies has a 12-month low of $16.63 and a 12-month high of $32.25. The company has a debt-to-equity ratio of 0.72, a current ratio of 4.25 and a quick ratio of 4.25. The company has a market cap of $2.17 billion, a P/E ratio of 149.72 and a beta of 2.14. The firm has a 50-day moving average price of $22.51 and a 200 day moving average price of $20.76.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.11. Sailpoint Technologies had a positive return on equity of 1.57% and a negative net margin of 3.13%. The firm had revenue of $75.88 million for the quarter, compared to analysts’ expectations of $70.50 million. During the same period in the previous year, the firm earned $0.12 EPS. The business’s quarterly revenue was up 15.4% on a year-over-year basis. Sell-side analysts predict that Sailpoint Technologies will post -0.07 EPS for the current year.

In related news, COO James Cameron Mcmartin sold 1,800 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $41.19, for a total value of $74,142.00. Also, Director William G. Bock sold 4,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $23.43, for a total value of $93,720.00. Following the sale, the director now directly owns 93,347 shares in the company, valued at $2,187,120.21. The disclosure for this sale can be found here. Over the last three months, insiders sold 217,800 shares of company stock worth $4,355,862. 4.10% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Sailpoint Technologies by 4.5% during the 2nd quarter. Vanguard Group Inc. now owns 7,407,641 shares of the company’s stock worth $148,449,000 after acquiring an additional 322,351 shares in the last quarter. Soma Equity Partners LP purchased a new stake in shares of Sailpoint Technologies during the 2nd quarter worth approximately $62,124,000. Janus Henderson Group PLC raised its holdings in shares of Sailpoint Technologies by 20.3% during the 2nd quarter. Janus Henderson Group PLC now owns 3,012,523 shares of the company’s stock worth $60,371,000 after acquiring an additional 507,503 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of Sailpoint Technologies by 207.8% during the 2nd quarter. Bank of America Corp DE now owns 2,701,115 shares of the company’s stock worth $54,131,000 after acquiring an additional 1,823,432 shares in the last quarter. Finally, ETF Managers Group LLC raised its holdings in shares of Sailpoint Technologies by 26.4% during the 2nd quarter. ETF Managers Group LLC now owns 2,437,095 shares of the company’s stock worth $48,279,000 after acquiring an additional 508,520 shares in the last quarter. 92.37% 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.

Further Reading: Stock Ratings and Recommendations: Understanding Analyst Upgrades and Downgrades

Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.