SailPoint (NASDAQ:SAIL) Now Covered by Wells Fargo & Company

Wells Fargo & Company began coverage on shares of SailPoint (NASDAQ:SAIL) in a report issued on Tuesday morning, Marketbeat reports. The brokerage issued an overweight rating and a $17.00 target price on the stock.

Several other analysts also recently weighed in on the stock. Truist Financial dropped their price target on shares of SailPoint from $29.00 to $23.00 and set a “buy” rating on the stock in a research note on Tuesday, February 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of SailPoint in a report on Wednesday, December 3rd. Scotiabank cut their target price on SailPoint from $25.00 to $24.00 and set a “sector outperform” rating for the company in a research note on Wednesday, December 10th. BMO Capital Markets reissued an “outperform” rating on shares of SailPoint in a report on Thursday, December 11th. Finally, Berenberg Bank started coverage on SailPoint in a report on Tuesday, November 18th. They set a “buy” rating and a $31.70 price objective on the stock. Three research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, SailPoint has an average rating of “Moderate Buy” and an average price target of $24.27.

SailPoint Trading Down 1.0%

Shares of SAIL stock opened at $14.20 on Tuesday. The company has a market capitalization of $7.98 billion and a P/E ratio of -2.96. The business’s 50 day moving average is $17.12 and its two-hundred day moving average is $19.59. SailPoint has a twelve month low of $12.81 and a twelve month high of $24.95.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $0.08 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $281.94 million during the quarter, compared to the consensus estimate of $270.35 million. SailPoint had a positive return on equity of 0.16% and a negative net margin of 30.87%.SailPoint’s quarterly revenue was up 19.8% on a year-over-year basis. SailPoint has set its FY 2026 guidance at 0.220-0.230 EPS and its Q4 2026 guidance at 0.080-0.09 EPS.

Insider Buying and Selling

In related news, General Counsel Christopher Schmitt sold 4,507 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $19.57, for a total value of $88,201.99. Following the sale, the general counsel directly owned 1,043,319 shares of the company’s stock, valued at approximately $20,417,752.83. This represents a 0.43% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Abby Payne sold 3,582 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $19.57, for a total transaction of $70,099.74. Following the transaction, the insider owned 678,807 shares of the company’s stock, valued at $13,284,252.99. This trade represents a 0.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 354,243 shares of company stock valued at $6,924,823 in the last three months.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SAIL. Norges Bank purchased a new position in shares of SailPoint during the 4th quarter worth $234,681,000. Vanguard Group Inc. increased its stake in SailPoint by 4.3% in the third quarter. Vanguard Group Inc. now owns 5,317,789 shares of the company’s stock valued at $117,417,000 after purchasing an additional 219,375 shares during the last quarter. Voya Investment Management LLC lifted its position in SailPoint by 10.1% during the third quarter. Voya Investment Management LLC now owns 4,309,070 shares of the company’s stock worth $95,144,000 after buying an additional 395,287 shares during the period. UBS Group AG boosted its stake in SailPoint by 116.3% in the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock worth $91,147,000 after buying an additional 2,219,593 shares during the last quarter. Finally, GW&K Investment Management LLC boosted its stake in SailPoint by 34.3% in the 3rd quarter. GW&K Investment Management LLC now owns 3,395,602 shares of the company’s stock worth $74,975,000 after buying an additional 866,889 shares during the last quarter.

About SailPoint

SailPoint Technologies Holdings, Inc (NASDAQ: SAIL) is a leading provider of enterprise identity governance solutions that enable organizations to manage and secure user access across on-premises, cloud and hybrid IT environments. Its software automates identity lifecycle management, access certifications, policy enforcement and privileged account governance, helping enterprises reduce security risks, maintain regulatory compliance and streamline IT operations. The company’s flagship offerings include IdentityIQ, a comprehensive on-premises platform, and IdentityNow, a cloud-native identity governance-as-a-service solution.

Founded in 2005 by industry veterans Mark McClain and Kevin Cunningham, SailPoint is headquartered in Austin, Texas.