Sailpoint (NYSE:SAIL) Price Target Raised to $20.00 at Wells Fargo & Company

Sailpoint (NYSE:SAIL) had its price objective raised by equities researchers at Wells Fargo & Company from $16.00 to $20.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential downside of 11.54% from the company’s current price.

Several other research analysts have also issued reports on SAIL. BTIG Research started coverage on shares of Sailpoint in a research note on Monday, March 10th. They issued a “buy” rating and a $27.00 price target for the company. Morgan Stanley cut their price objective on shares of Sailpoint from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. BMO Capital Markets increased their price objective on shares of Sailpoint from $26.00 to $27.00 and gave the company an “outperform” rating in a research report on Thursday. Barclays set a $23.00 price objective on shares of Sailpoint and gave the company an “overweight” rating in a research report on Tuesday, June 3rd. Finally, JPMorgan Chase & Co. assumed coverage on shares of Sailpoint in a research report on Monday, March 10th. They set a “neutral” rating and a $25.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Sailpoint Price Performance

Shares of Sailpoint stock opened at $22.61 on Thursday. The stock has a 50-day simple moving average of $18.03. Sailpoint has a 1 year low of $15.05 and a 1 year high of $26.35.

Sailpoint (NYSE:SAIL) last issued its quarterly earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($4.28). The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $229.69 million.

Hedge Funds Weigh In On Sailpoint

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Siren L.L.C. purchased a new position in shares of Sailpoint in the first quarter worth approximately $1,781,000. Woodline Partners LP purchased a new position in shares of Sailpoint in the first quarter worth approximately $8,032,000. Zimmer Partners LP purchased a new position in shares of Sailpoint in the first quarter worth approximately $1,969,000. Goldman Sachs Group Inc. purchased a new position in shares of Sailpoint in the first quarter worth approximately $7,546,000. Finally, Infinitum Asset Management LLC purchased a new position in shares of Sailpoint in the first quarter worth approximately $1,875,000.

Sailpoint Company Profile

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.