SailPoint (NASDAQ:SAIL) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

SailPoint, Inc. (NASDAQ:SAIL)’s stock price crossed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $19.95 and traded as high as $20.65. SailPoint shares last traded at $20.36, with a volume of 4,251,774 shares traded.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and issued a $17.00 target price on shares of SailPoint in a report on Thursday, September 10th. Barclays boosted their price target on shares of SailPoint from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Thursday, September 10th. Truist Financial upped their price objective on shares of SailPoint from $23.00 to $27.00 and gave the stock a “buy” rating in a report on Thursday, September 24th. Weiss Ratings raised shares of SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, August 13th. Finally, Oppenheimer began coverage on shares of SailPoint in a research note on Wednesday, October 7th. They issued an “outperform” rating and a $30.00 price objective on the stock. Twenty-one investment analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, SailPoint presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.20.

SailPoint Price Performance

The stock has a fifty day moving average price of $19.95 and a two-hundred day moving average price of $16.17. The company has a market cap of $11.62 billion, a P/E ratio of -59.88, a price-to-earnings-growth ratio of 2.09 and a beta of 2.08.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings results on Wednesday, September 9th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. SailPoint had a positive return on equity of 2.44% and a negative net margin of 16.92%. The business had revenue of $308.81 million during the quarter. During the same period in the previous year, the company posted ($0.02) earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. Equities analysts predict that SailPoint, Inc. will post 0.33 earnings per share for the current fiscal year.

Insider Transactions at SailPoint

In related news, Director James Hagan sold 4,205 shares of the business’s stock in a transaction dated Tuesday, October 27th. The shares were sold at an average price of $22.50, for a total transaction of $94,612.50. Following the transaction, the director directly owned 94,125 shares in the company, valued at approximately $2,117,812.50. The trade was a 4.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark D. Mcclain sold 115,356 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total transaction of $2,273,666.76. Following the completion of the sale, the chief executive officer directly owned 7,874,621 shares of the company’s stock, valued at $155,208,779.91. The trade was a 1.44% 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. Over the last 90 days, insiders have sold 515,009 shares of company stock worth $10,310,350. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On SailPoint

A number of hedge funds and other institutional investors have recently modified their holdings of SAIL. Wasatch Advisors LP bought a new stake in shares of SailPoint during the 2nd quarter worth $66,173,000. BlackRock Inc. purchased a new position in shares of SailPoint in the 2nd quarter worth about $65,050,000. Bank of America Corp DE grew its position in SailPoint by 40.1% during the first quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock valued at $23,367,000 after buying an additional 504,726 shares during the period. Freestone Grove Partners LP bought a new position in SailPoint during the second quarter valued at about $21,266,000. Finally, Bamco Inc. NY bought a new position in SailPoint during the second quarter valued at about $15,914,000.

SailPoint Company Profile

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots.

The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.

Founded in 2005 and headquartered in Austin, Texas, SailPoint serves organizations around the world.