Sailpoint Technologies (NYSE:SAIL) Now Covered by Analysts at Piper Jaffray Companies

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Equities researchers at Piper Jaffray Companies started coverage on shares of Sailpoint Technologies (NYSE:SAIL) in a research note issued on Friday, Benzinga’s Daily Ratings Newsletter reports. The firm set an “overweight” rating and a $30.00 price target on the stock. Piper Jaffray Companies’ price objective suggests a potential upside of 30.49% from the stock’s previous close.

A number of other brokerages have also commented on SAIL. SunTrust Banks started coverage on Sailpoint Technologies in a report on Wednesday, October 2nd. They issued a “buy” rating and a $25.00 price target on the stock. Wedbush started coverage on Sailpoint Technologies in a report on Thursday. They issued an “outperform” rating and a $32.00 price target on the stock. Royal Bank of Canada restated a “buy” rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. Rosenblatt Securities restated a “hold” rating and issued a $23.00 price target on shares of Sailpoint Technologies in a report on Thursday. Finally, Jefferies Financial Group boosted their price target on Sailpoint Technologies from $26.00 to $28.00 and gave the company an “in-line” rating in a report on Thursday. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Sailpoint Technologies currently has an average rating of “Buy” and an average target price of $27.40.

Shares of Sailpoint Technologies stock traded up $1.00 during trading on Friday, reaching $22.99. The stock had a trading volume of 2,018,753 shares, compared to its average volume of 1,290,271. The company has a market capitalization of $1.79 billion, a price-to-earnings ratio of 143.69 and a beta of 2.01. The stock has a fifty day moving average price of $19.25 and a two-hundred day moving average price of $20.73. Sailpoint Technologies has a 52 week low of $16.63 and a 52 week high of $32.25.

Sailpoint Technologies (NYSE:SAIL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11. The company had revenue of $75.88 million for the quarter, compared to analyst estimates of $70.50 million. Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The company’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.12 earnings per share. On average, analysts anticipate that Sailpoint Technologies will post -0.09 earnings per share for the current fiscal year.

In related news, Director James Michael Pflaging sold 5,000 shares of Sailpoint Technologies stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $20.09, for a total value of $100,450.00. Also, Director William G. Bock sold 4,000 shares of Sailpoint Technologies stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $21.21, for a total value of $84,840.00. Following the completion of the sale, the director now directly owns 97,347 shares in the company, valued at approximately $2,064,729.87. The disclosure for this sale can be found here. In the last ninety days, insiders sold 256,000 shares of company stock worth $5,075,760. 4.10% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the stock. HM Payson & Co. acquired a new stake in shares of Sailpoint Technologies in the second quarter valued at about $25,000. Manchester Financial Inc. acquired a new position in Sailpoint Technologies during the second quarter worth approximately $27,000. Usca Ria LLC acquired a new position in Sailpoint Technologies during the third quarter worth approximately $37,000. Aperio Group LLC acquired a new position in Sailpoint Technologies during the second quarter worth approximately $41,000. Finally, Optimum Investment Advisors increased its position in Sailpoint Technologies by 17.8% during the second quarter. Optimum Investment Advisors now owns 5,950 shares of the company’s stock worth $119,000 after buying an additional 900 shares during the last quarter. 92.59% of the stock is currently owned by institutional investors and hedge funds.

Sailpoint Technologies Company Profile

SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.

Recommended Story: Buy Rating

Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

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