Mizuho Lowers Sailpoint (NYSE:SAIL) Price Target to $24.00

Sailpoint (NYSE:SAIL) had its price objective dropped by equities researchers at Mizuho from $25.00 to $24.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 28.82% from the company’s previous close.

Several other equities research analysts also recently weighed in on SAIL. Royal Bank of Canada assumed coverage on shares of Sailpoint in a research note on Monday, March 10th. They issued an “outperform” rating and a $27.00 target price on the stock. TD Cowen initiated coverage on Sailpoint in a research note on Monday, March 10th. They set a “buy” rating and a $30.00 target price on the stock. Barclays assumed coverage on Sailpoint in a research report on Monday, March 10th. They issued an “overweight” rating and a $27.00 price objective on the stock. Wells Fargo & Company assumed coverage on shares of Sailpoint in a report on Monday, April 14th. They issued an “equal weight” rating and a $16.00 price target on the stock. Finally, Jefferies Financial Group reduced their target price on shares of Sailpoint from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $25.97.

Sailpoint Price Performance

Shares of SAIL stock opened at $18.63 on Thursday. The business has a fifty day simple moving average of $18.29. Sailpoint has a 52-week low of $15.05 and a 52-week high of $26.35.

Sailpoint (NYSE:SAIL) last issued its earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($4.28). The company had revenue of $240.10 million during the quarter, compared to the consensus estimate of $229.69 million.

Institutional Investors Weigh In On Sailpoint

Several hedge funds have recently bought and sold shares of SAIL. Vanguard Group Inc. acquired a new stake in Sailpoint in the 1st quarter valued at about $94,194,000. Alliancebernstein L.P. acquired a new stake in shares of Sailpoint in the 1st quarter worth $55,644,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of Sailpoint during the 1st quarter valued at about $46,875,000. Ameriprise Financial Inc. purchased a new stake in shares of Sailpoint in the first quarter valued at about $42,585,000. Finally, Stephens Investment Management Group LLC purchased a new position in Sailpoint during the first quarter worth about $23,213,000.

About Sailpoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.