SailPoint (NASDAQ:SAIL) Upgraded to “Hold” at DA Davidson

SailPoint (NASDAQ:SAIL) was upgraded by stock analysts at DA Davidson to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other research firms have also recently issued reports on SAIL. Barclays cut their price target on shares of SailPoint from $22.00 to $19.00 and set an “overweight” rating on the stock in a report on Wednesday, June 10th. Mizuho set a $16.00 price objective on shares of SailPoint in a report on Wednesday, June 10th. Stephens reissued an “overweight” rating and issued a $20.00 target price on shares of SailPoint in a research report on Wednesday, June 17th. Rosenblatt Securities assumed coverage on shares of SailPoint in a research note on Wednesday, July 8th. They issued a “neutral” rating and a $16.00 target price on the stock. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of SailPoint in a research report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.94.

SailPoint Stock Up 1.2%

SAIL stock opened at $17.40 on Monday. The stock’s 50 day moving average is $15.38 and its two-hundred day moving average is $14.50. SailPoint has a 52-week low of $10.30 and a 52-week high of $24.00. The company has a market capitalization of $9.87 billion, a PE ratio of -64.44, a P/E/G ratio of 1.91 and a beta of 2.08.

SailPoint (NASDAQ:SAIL) last released its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company had revenue of $280.14 million during the quarter. During the same quarter last year, the company posted $0.01 earnings per share. The business’s quarterly revenue was up 21.5% compared to the same quarter last year. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. As a group, sell-side analysts anticipate that SailPoint will post 0.33 EPS for the current year.

Insider Transactions at SailPoint

In other SailPoint news, President Matt Mills sold 43,485 shares of the stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total transaction of $708,370.65. Following the sale, the president directly owned 2,407,849 shares of the company’s stock, valued at approximately $39,223,860.21. This represents a 1.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 23,940 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $389,982.60. Following the completion of the transaction, the general counsel owned 1,331,611 shares in the company, valued at approximately $21,691,943.19. The trade was a 1.77% decrease in their ownership of the stock. 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 have sold a total of 497,832 shares of company stock valued at $7,934,851 over the last quarter. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

A number of large investors have recently bought and sold shares of the business. Royal Bank of Canada acquired a new position in SailPoint in the first quarter valued at approximately $1,146,000. Goldman Sachs Group Inc. bought a new stake in shares of SailPoint in the 1st quarter worth approximately $7,546,000. JPMorgan Chase & Co. acquired a new position in SailPoint during the 2nd quarter valued at approximately $692,000. Rhumbline Advisers acquired a new position in SailPoint during the 2nd quarter valued at approximately $1,047,000. Finally, New York State Common Retirement Fund bought a new position in SailPoint during the 2nd quarter worth $572,000.

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.