SailPoint Technologies (NYSE:SAIL) Downgraded by Wolfe Research to “Market Perform”

Wolfe Research cut shares of SailPoint Technologies (NYSE:SAILGet Rating) from an outperform rating to a market perform rating in a report issued on Monday, The Fly reports.

Other research analysts have also issued research reports about the stock. Jefferies Financial Group increased their target price on shares of SailPoint Technologies from $65.00 to $70.00 and gave the stock a buy rating in a research report on Thursday, January 6th. Piper Sandler decreased their target price on shares of SailPoint Technologies from $70.00 to $55.00 in a research report on Thursday, January 6th. Citigroup increased their target price on shares of SailPoint Technologies from $35.00 to $40.00 and gave the stock a sell rating in a research report on Tuesday, March 1st. Zacks Investment Research raised shares of SailPoint Technologies from a sell rating to a hold rating in a report on Wednesday, March 23rd. Finally, Loop Capital cut their price target on shares of SailPoint Technologies from $55.00 to $45.00 and set a hold rating for the company in a report on Tuesday, March 1st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $60.87.

Shares of SAIL opened at $64.05 on Monday. The firm’s 50-day simple moving average is $44.23 and its 200 day simple moving average is $46.09. SailPoint Technologies has a 52 week low of $34.98 and a 52 week high of $64.39. The firm has a market cap of $6.03 billion, a P/E ratio of -96.73 and a beta of 1.84.

SailPoint Technologies (NYSE:SAILGet Rating) last announced its earnings results on Monday, February 28th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.16. SailPoint Technologies had a negative net margin of 14.04% and a negative return on equity of 9.86%. The firm had revenue of $135.60 million for the quarter, compared to analyst estimates of $113.72 million. During the same quarter in the prior year, the business posted $0.05 EPS. The business’s revenue was up 31.2% compared to the same quarter last year. Analysts anticipate that SailPoint Technologies will post -0.77 earnings per share for the current year.

In other SailPoint Technologies news, CEO Mark D. Mcclain sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 18th. The shares were sold at an average price of $41.28, for a total transaction of $1,032,000.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Grady Summers sold 9,000 shares of the company’s stock in a transaction on Friday, February 18th. The shares were sold at an average price of $39.27, for a total transaction of $353,430.00. The disclosure for this sale can be found here. In the last three months, insiders sold 102,745 shares of company stock valued at $4,200,862. 2.00% of the stock is owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Credit Suisse AG boosted its position in SailPoint Technologies by 11.3% during the third quarter. Credit Suisse AG now owns 2,000,897 shares of the company’s stock valued at $85,799,000 after acquiring an additional 203,366 shares during the last quarter. Mutual of America Capital Management LLC raised its holdings in shares of SailPoint Technologies by 14.7% during the third quarter. Mutual of America Capital Management LLC now owns 369,987 shares of the company’s stock valued at $15,865,000 after purchasing an additional 47,484 shares during the period. Lee Capital Holdings LLC acquired a new position in shares of SailPoint Technologies during the third quarter valued at about $3,009,000. Ziegler Capital Management LLC acquired a new position in shares of SailPoint Technologies during the third quarter valued at about $5,513,000. Finally, Two Sigma Advisers LP raised its holdings in shares of SailPoint Technologies by 50.8% during the third quarter. Two Sigma Advisers LP now owns 527,700 shares of the company’s stock valued at $22,628,000 after purchasing an additional 177,800 shares during the period.

SailPoint Technologies Company Profile (Get Rating)

SailPoint Technologies Holdings, Inc provides enterprise identity security solutions in the United States, Europe, the Middle East, Africa, and internationally. The company offers software as a service (SaaS) and software platforms, which provide organizations visibility and the intelligence required to empower users and manage their access to systems, applications, and data across hybrid information technology environments, spanning on-premises, cloud and mobile applications, and file storage platforms.

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