SailPoint (NASDAQ:SAIL) Receives “Overweight” Rating from Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of SailPoint (NASDAQ:SAIL) in a research note published on Monday morning,Benzinga reports. They currently have a $23.00 price objective on the stock.

Several other analysts also recently weighed in on SAIL. Wells Fargo & Company cut their target price on SailPoint from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. FBN Securities started coverage on SailPoint in a report on Tuesday, February 24th. They set an “outperform” rating and a $18.00 price target on the stock. BTIG Research cut their price objective on shares of SailPoint from $22.00 to $18.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. TD Cowen reduced their price objective 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. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of SailPoint in a research report on Thursday, December 11th. Two investment analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $21.49.

SailPoint Stock Performance

Shares of SAIL opened at $12.54 on Monday. SailPoint has a 1 year low of $11.90 and a 1 year high of $24.95. The company has a market cap of $7.07 billion and a price-to-earnings ratio of -22.39. The firm has a fifty day moving average of $15.50 and a 200-day moving average of $19.00.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings results on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The business had revenue of $294.65 million during the quarter. The firm’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($4.29) EPS.

Insider Buying and Selling at SailPoint

In other SailPoint news, CFO Brian Carolan sold 30,638 shares of SailPoint 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 transaction, the chief financial officer owned 1,277,795 shares in the company, valued at approximately $25,006,448.15. The trade was a 2.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Christopher Schmitt sold 4,507 shares of the stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $19.57, for a total value of $88,201.99. Following the completion of the transaction, the general counsel owned 1,043,319 shares of the company’s stock, valued at $20,417,752.83. This trade represents a 0.43% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 354,243 shares of company stock valued at $6,924,823.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Blue Trust Inc. raised its stake in shares of SailPoint by 4.2% in the 3rd quarter. Blue Trust Inc. now owns 16,886 shares of the company’s stock valued at $373,000 after acquiring an additional 673 shares in the last quarter. Cerity Partners LLC boosted its position in SailPoint by 0.8% during the fourth quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock worth $2,339,000 after purchasing an additional 923 shares during the period. Essex Financial Services Inc. boosted its position in SailPoint by 7.8% during the third quarter. Essex Financial Services Inc. now owns 13,157 shares of the company’s stock worth $291,000 after purchasing an additional 947 shares during the period. Main Management ETF Advisors LLC lifted its stake in shares of SailPoint by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock worth $2,075,000 after buying an additional 1,048 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of SailPoint during the 3rd quarter worth $31,000.

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.