SailPoint Technologies (NYSE:SAIL) Rating Lowered to Neutral at DA Davidson

SailPoint Technologies (NYSE:SAIL – Get Rating) was downgraded by equities research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued to investors on Monday, The Fly reports.

Several other equities analysts also recently commented on the stock. Citigroup upped their price target on shares of SailPoint Technologies from $35.00 to $40.00 and gave the company a “sell” rating in a report on Tuesday, March 1st. Canaccord Genuity Group upped their target price on shares of SailPoint Technologies from $50.00 to $57.00 in a research note on Tuesday, March 1st. Piper Sandler dropped their target price on shares of SailPoint Technologies from $70.00 to $55.00 in a research note on Thursday, January 6th. Zacks Investment Research upgraded shares of SailPoint Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, March 23rd. Finally, Wedbush dropped their target price on shares of SailPoint Technologies from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 1st. Twelve research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, SailPoint Technologies has an average rating of “Hold” and an average price target of $62.83.

SailPoint Technologies stock opened at $64.11 on Monday. The company has a market cap of $6.04 billion, a PE ratio of -97.13 and a beta of 1.84. SailPoint Technologies has a twelve month low of $34.98 and a twelve month high of $64.39. The company’s 50-day moving average price is $44.71 and its 200-day moving average price is $46.21.

SailPoint Technologies (NYSE:SAIL – Get Rating) last issued its quarterly earnings results on Monday, February 28th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.07) by $0.16. The company had revenue of $135.60 million for the quarter, compared to the consensus estimate of $113.72 million. SailPoint Technologies had a negative net margin of 14.04% and a negative return on equity of 9.86%. The firm’s revenue was up 31.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.05 EPS. As a group, sell-side analysts forecast that SailPoint Technologies will post -0.77 earnings per share for the current year.

In related news, CEO Mark D. Mcclain sold 25,000 shares of the business’s stock in a transaction on Tuesday, March 15th. The stock was sold at an average price of $40.80, for a total transaction of $1,020,000.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Matt Mills sold 4,063 shares of the business’s stock in a transaction on Wednesday, March 2nd. The stock was sold at an average price of $44.90, for a total value of $182,428.70. The disclosure for this sale can be found here. Insiders have sold 102,745 shares of company stock valued at $4,200,862 in the last three months. 2.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently made changes to their positions in the stock. Cutler Group LP grew its stake in SailPoint Technologies by 279.5% during the 4th quarter. Cutler Group LP now owns 612 shares of the company’s stock valued at $29,000 after purchasing an additional 953 shares during the last quarter. First Horizon Advisors Inc. boosted its position in SailPoint Technologies by 912.3% in the third quarter. First Horizon Advisors Inc. now owns 658 shares of the company’s stock valued at $33,000 after buying an additional 593 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in SailPoint Technologies in the 3rd quarter worth approximately $43,000. PNC Financial Services Group Inc. raised its position in SailPoint Technologies by 18.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,086 shares of the company’s stock worth $132,000 after buying an additional 490 shares during the last quarter. Finally, SRS Capital Advisors Inc. acquired a new stake in SailPoint Technologies during the 3rd quarter valued at approximately $134,000.

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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