SailPoint (NASDAQ:SAIL) Upgraded by Roth Mkm to Strong-Buy Rating

SailPoint (NASDAQ:SAIL) was upgraded by equities researchers at Roth Mkm to a “strong-buy” rating in a research note issued on Wednesday,Zacks.com reports.

A number of other research firms also recently issued reports on SAIL. The Goldman Sachs Group reduced their price target on shares of SailPoint from $21.00 to $18.00 and set a “neutral” rating on the stock in a research note on Thursday, March 19th. Robert W. Baird dropped their target price on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Thursday, March 19th. Truist Financial cut their target price on SailPoint from $23.00 to $18.00 and set a “buy” rating on the stock in a research report on Thursday, March 19th. Royal Bank Of Canada set a $17.00 price target on SailPoint in a research note on Friday, May 15th. Finally, TD Cowen lowered their price target on SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Three research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $21.19.

SailPoint Trading Up 0.2%

NASDAQ SAIL opened at $15.01 on Wednesday. The stock has a fifty day simple moving average of $12.66 and a 200-day simple moving average of $16.17. The stock has a market cap of $8.51 billion, a PE ratio of -26.80 and a beta of 1.09. SailPoint has a twelve month low of $10.30 and a twelve month high of $24.95.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings data on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting 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 firm had revenue of $294.65 million for the quarter. During the same quarter last year, the firm posted ($4.29) earnings per share. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. Research analysts predict that SailPoint will post 0.32 EPS for the current year.

Insider Transactions at SailPoint

In related news, EVP Chandrasekar Gnanasambandam sold 20,082 shares of the business’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $230,139.72. Following the completion of the transaction, the executive vice president directly owned 968,926 shares of the company’s stock, valued at $11,103,891.96. The trade was a 2.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Christopher Schmitt sold 18,813 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $215,596.98. Following the sale, the general counsel owned 1,355,551 shares in the company, valued at approximately $15,534,614.46. This trade represents a 1.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 526,962 shares of company stock valued at $6,420,108 in the last 90 days. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SAIL. Aster Capital Management DIFC Ltd purchased a new stake in shares of SailPoint in the 3rd quarter valued at approximately $31,000. Palladiem LLC purchased a new stake in shares of SailPoint during the 4th quarter worth $42,000. Kestra Advisory Services LLC acquired a new position in shares of SailPoint during the fourth quarter worth $42,000. State of Wyoming purchased a new position in SailPoint in the second quarter valued at $45,000. Finally, CWM LLC increased its holdings in SailPoint by 315.6% in the fourth quarter. CWM LLC now owns 2,656 shares of the company’s stock valued at $54,000 after buying an additional 2,017 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.