SailPoint (NASDAQ:SAIL) Price Target Cut to $20.00 by Analysts at Barclays

SailPoint (NASDAQ:SAIL) had its price objective trimmed by Barclays from $23.00 to $20.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts also recently weighed in on SAIL. Truist Financial reduced 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. BMO Capital Markets reissued an “outperform” rating on shares of SailPoint in a research note on Thursday, December 11th. Weiss Ratings restated a “sell (d-)” rating on shares of SailPoint in a research report on Monday, December 29th. Scotiabank decreased their target price on shares of SailPoint from $25.00 to $24.00 and set a “sector outperform” rating on the stock in a research note on Wednesday, December 10th. Finally, TD Cowen lowered their price target on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Four research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.44.

SailPoint Stock Down 2.4%

SailPoint stock opened at $15.08 on Monday. The stock has a market cap of $8.47 billion and a PE ratio of -3.15. SailPoint has a 12-month low of $12.81 and a 12-month high of $24.95. The business’s 50-day moving average price is $16.19 and its two-hundred day moving average price is $19.28.

Insiders Place Their Bets

In other SailPoint news, President Matt Mills sold 21,345 shares of SailPoint stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $19.23, for a total value of $410,464.35. Following the completion of the sale, the president directly owned 1,882,913 shares in the company, valued at approximately $36,208,416.99. The trade was a 1.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Brian Carolan sold 30,638 shares of the business’s stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $19.57, for a total value of $599,585.66. Following the completion of the transaction, the chief financial officer directly owned 1,277,795 shares in the company, valued at approximately $25,006,448.15. This trade represents a 2.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 354,243 shares of company stock valued at $6,924,823 over the last 90 days. 2.00% of the stock is owned by company insiders.

Institutional Trading of SailPoint

Large investors have recently modified their holdings of the stock. Aster Capital Management DIFC Ltd acquired a new position in shares of SailPoint during the 3rd quarter valued at $31,000. Loomis Sayles & Co. L P bought a new position in SailPoint during the second quarter worth $42,000. Palladiem LLC bought a new stake in SailPoint in the fourth quarter valued at $42,000. Kestra Advisory Services LLC bought a new stake in SailPoint in the fourth quarter valued at $42,000. Finally, State of Wyoming acquired a new position in shares of SailPoint during the second quarter valued at about $45,000.

SailPoint Company Profile

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.