JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Sailpoint (NYSE:SAIL) Stock

Sailpoint (NYSE:SAIL) had its price target hoisted by investment analysts at JPMorgan Chase & Co. from $25.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.99% from the stock’s previous close.

A number of other analysts have also recently weighed in on the company. Jefferies Financial Group decreased their price objective on Sailpoint from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Truist Financial assumed coverage on Sailpoint in a research report on Monday, March 10th. They set a “buy” rating and a $29.00 price objective for the company. Evercore ISI assumed coverage on Sailpoint in a research report on Monday, March 10th. They set an “outperform” rating and a $29.00 price objective for the company. Bank of America assumed coverage on Sailpoint in a research report on Monday, March 10th. They set a “buy” rating and a $27.50 price objective for the company. Finally, Mizuho increased their price objective on Sailpoint from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Sailpoint Trading Down 3.0%

NYSE:SAIL opened at $22.61 on Thursday. The stock’s 50 day moving average price is $18.03. Sailpoint has a 52-week low of $15.05 and a 52-week high of $26.35.

Sailpoint (NYSE:SAIL) last released its quarterly earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share (EPS) 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 analysts’ expectations of $229.69 million.

Hedge Funds Weigh In On Sailpoint

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