$91.58 Million in Sales Expected for SailPoint Technologies Holdings, Inc. (NYSE:SAIL) This Quarter

Wall Street analysts expect SailPoint Technologies Holdings, Inc. (NYSE:SAIL) to post $91.58 million in sales for the current fiscal quarter, according to Zacks. Five analysts have made estimates for SailPoint Technologies’ earnings. The highest sales estimate is $92.30 million and the lowest is $91.00 million. SailPoint Technologies posted sales of $75.44 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.4%. The business is expected to report its next quarterly earnings results on Thursday, May 6th.

According to Zacks, analysts expect that SailPoint Technologies will report full year sales of $412.42 million for the current financial year, with estimates ranging from $407.90 million to $422.60 million. For the next year, analysts anticipate that the company will post sales of $473.38 million, with estimates ranging from $456.00 million to $486.00 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that that provide coverage for SailPoint Technologies.

SailPoint Technologies (NYSE:SAIL) last posted its quarterly earnings data on Thursday, February 25th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.15. SailPoint Technologies had a negative net margin of 0.18% and a positive return on equity of 4.35%. The company had revenue of $103.34 million for the quarter, compared to analyst estimates of $94.69 million.

SAIL has been the topic of a number of recent analyst reports. The Goldman Sachs Group increased their price objective on shares of SailPoint Technologies from $53.00 to $61.00 and gave the stock a “buy” rating in a research report on Friday, January 8th. Truist increased their price objective on shares of SailPoint Technologies from $55.00 to $65.00 in a research report on Wednesday, January 27th. Needham & Company LLC raised shares of SailPoint Technologies from a “hold” rating to a “buy” rating and set a $75.00 target price on the stock in a research report on Monday, March 8th. Morgan Stanley raised their target price on shares of SailPoint Technologies from $71.00 to $75.00 and gave the stock an “overweight” rating in a research report on Monday, March 8th. Finally, Monness Crespi & Hardt raised shares of SailPoint Technologies from a “neutral” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, one has assigned a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $55.00.

In other news, CAO Eric Domagalski sold 1,558 shares of the business’s stock in a transaction on Wednesday, March 3rd. The stock was sold at an average price of $56.35, for a total value of $87,793.30. Following the completion of the transaction, the chief accounting officer now directly owns 25,720 shares of the company’s stock, valued at approximately $1,449,322. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Mark D. Mcclain sold 20,000 shares of the business’s stock in a transaction on Friday, January 15th. The stock was sold at an average price of $56.65, for a total value of $1,133,000.00. Following the completion of the transaction, the chief executive officer now directly owns 1,105,381 shares of the company’s stock, valued at $62,619,833.65. The disclosure for this sale can be found here. Over the last three months, insiders sold 77,952 shares of company stock valued at $4,592,148. Corporate insiders own 3.40% of the company’s stock.

A number of large investors have recently made changes to their positions in SAIL. Norges Bank acquired a new position in SailPoint Technologies during the 4th quarter valued at about $48,038,000. HMI Capital Management L.P. increased its position in SailPoint Technologies by 15.9% during the 4th quarter. HMI Capital Management L.P. now owns 5,572,172 shares of the company’s stock valued at $296,662,000 after buying an additional 765,625 shares in the last quarter. First Trust Advisors LP increased its position in SailPoint Technologies by 41.9% during the 4th quarter. First Trust Advisors LP now owns 1,933,787 shares of the company’s stock valued at $102,955,000 after buying an additional 570,702 shares in the last quarter. Bank of New York Mellon Corp increased its position in SailPoint Technologies by 141.9% during the 4th quarter. Bank of New York Mellon Corp now owns 889,156 shares of the company’s stock valued at $47,338,000 after buying an additional 521,579 shares in the last quarter. Finally, Rothschild & Co. Asset Management US Inc. acquired a new position in SailPoint Technologies during the 4th quarter valued at about $24,463,000.

SailPoint Technologies stock opened at $50.13 on Thursday. SailPoint Technologies has a 1-year low of $14.14 and a 1-year high of $64.19. The firm has a market capitalization of $4.61 billion, a P/E ratio of -5,007.99 and a beta of 2.01. The company’s 50-day moving average is $54.85 and its 200 day moving average is $50.90.

About SailPoint Technologies

SailPoint Technologies Holdings, Inc provides enterprise identity security solutions in the United States, Europe, the Middle East, Africa, and internationally. The company offers software and software as a service (SaaS) solutions, which help organizations to govern the digital identities of employees, contractors, business partners, software bots, and other human and non-human users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments, spanning on-premises, cloud and mobile applications, and file storage platforms.

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