Sailpoint (NYSE:SAIL) Price Target Lowered to $23.00 at Barclays

Sailpoint (NYSE:SAIL) had its target price reduced by Barclays from $27.00 to $23.00 in a report published on Tuesday morning,Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other analysts also recently weighed in on the company. BTIG Research assumed coverage on Sailpoint in a research report on Monday, March 10th. They issued a “buy” rating and a $27.00 target price for the company. Wells Fargo & Company assumed coverage on Sailpoint in a research report on Monday, April 14th. They issued an “equal weight” rating and a $16.00 target price for the company. JPMorgan Chase & Co. assumed coverage on Sailpoint in a research report on Monday, March 10th. They issued a “neutral” rating and a $25.00 target price for the company. Truist Financial assumed coverage on Sailpoint in a research report on Monday, March 10th. They issued a “buy” rating and a $29.00 target price for the company. Finally, Evercore ISI started coverage on Sailpoint in a research report on Monday, March 10th. They issued an “outperform” rating and a $29.00 target price for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $25.70.

Sailpoint Stock Up 2.5%

Shares of SAIL opened at $17.78 on Tuesday. The firm’s 50-day simple moving average is $17.72. Sailpoint has a 12-month low of $15.05 and a 12-month high of $26.35.

Sailpoint (NYSE:SAIL) last released its earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates 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.

Hedge Funds Weigh In On Sailpoint

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. purchased a new position in shares of Sailpoint during the first quarter valued at approximately $94,194,000. Alliancebernstein L.P. purchased a new position in shares of Sailpoint during the first quarter valued at approximately $55,644,000. T. Rowe Price Investment Management Inc. purchased a new position in shares of Sailpoint during the first quarter valued at approximately $46,875,000. Ameriprise Financial Inc. purchased a new position in shares of Sailpoint during the first quarter valued at approximately $42,585,000. Finally, Stephens Investment Management Group LLC purchased a new stake in Sailpoint in the first quarter worth $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.