SailPoint Technologies Holdings, Inc. (NYSE:SAIL) Receives Average Recommendation of “Hold” from Brokerages

Shares of SailPoint Technologies Holdings, Inc. (NYSE:SAILGet Rating) have been assigned an average recommendation of “Hold” from the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Twelve equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $65.38.

Several research analysts have recently weighed in on the stock. Piper Sandler cut shares of SailPoint Technologies from an “overweight” rating to a “neutral” rating and set a $65.00 price target on the stock. in a research note on Tuesday, April 12th. Truist Financial cut shares of SailPoint Technologies from a “buy” rating to a “hold” rating in a research note on Wednesday, April 13th. Canaccord Genuity Group reiterated a “hold” rating and set a $65.25 price target on shares of SailPoint Technologies in a research note on Tuesday, April 12th. KeyCorp started coverage on shares of SailPoint Technologies in a research note on Monday, April 4th. They set an “overweight” rating and a $63.00 target price on the stock. Finally, Zacks Investment Research cut shares of SailPoint Technologies from a “buy” rating to a “hold” rating in a research note on Friday, May 13th.

In related news, CEO Mark D. Mcclain sold 25,000 shares of the company’s stock in a transaction dated Tuesday, March 15th. The shares were 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 this hyperlink. Also, insider Matt Mills sold 4,063 shares of the company’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $44.90, for a total transaction of $182,428.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,578 shares of company stock worth $1,436,192. Insiders own 2.00% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Credit Suisse AG boosted its position in SailPoint Technologies by 11.3% in the 3rd quarter. Credit Suisse AG now owns 2,000,897 shares of the company’s stock valued at $85,799,000 after buying an additional 203,366 shares during the period. Lee Capital Holdings LLC purchased a new stake in shares of SailPoint Technologies in the 3rd quarter worth approximately $3,009,000. Two Sigma Advisers LP lifted its position in shares of SailPoint Technologies by 50.8% in the 3rd quarter. Two Sigma Advisers LP now owns 527,700 shares of the company’s stock worth $22,628,000 after purchasing an additional 177,800 shares during the period. Cubist Systematic Strategies LLC lifted its position in shares of SailPoint Technologies by 136.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 50,953 shares of the company’s stock worth $2,185,000 after purchasing an additional 29,445 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of SailPoint Technologies by 14.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 174,817 shares of the company’s stock worth $8,461,000 after purchasing an additional 21,832 shares during the period.

NYSE:SAIL opened at $63.26 on Wednesday. SailPoint Technologies has a 12 month low of $34.98 and a 12 month high of $64.43. The company has a market cap of $5.96 billion, a PE ratio of -75.31 and a beta of 1.55. The company has a 50 day simple moving average of $58.28 and a two-hundred day simple moving average of $49.95.

SailPoint Technologies (NYSE:SAILGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. SailPoint Technologies had a negative net margin of 17.13% and a negative return on equity of 13.41%. The business had revenue of $115.40 million during the quarter, compared to the consensus estimate of $111.84 million. During the same quarter in the previous year, the firm posted ($0.12) EPS. The firm’s revenue was up 27.1% on a year-over-year basis. As a group, equities analysts predict that SailPoint Technologies will post -0.77 earnings per share for the current year.

About SailPoint Technologies (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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