Barclays Cuts Sailpoint (NYSE:SAIL) Price Target to $23.00

Sailpoint (NYSE:SAIL) had its price objective reduced by stock analysts at Barclays from $27.00 to $23.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 32.64% from the company’s current price.

SAIL has been the topic of several other research reports. Bank of America initiated coverage on shares of Sailpoint in a research note on Monday, March 10th. They set a “buy” rating and a $27.50 price target on the stock. Jefferies Financial Group dropped their price target on shares of Sailpoint from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Evercore ISI initiated coverage on shares of Sailpoint in a research note on Monday, March 10th. They set an “outperform” rating and a $29.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of Sailpoint in a research note on Monday, March 10th. They set a “neutral” rating and a $25.00 price target on the stock. Finally, BMO Capital Markets started coverage on shares of Sailpoint in a report on Monday, March 10th. They set an “outperform” rating and a $26.00 price objective for the company. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Sailpoint has a consensus rating of “Moderate Buy” and a consensus price target of $25.70.

Sailpoint Trading Down 1.6%

Sailpoint stock opened at $17.34 on Tuesday. Sailpoint has a twelve month low of $15.05 and a twelve month high of $26.35. The company has a 50 day moving average of $17.79.

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

Institutional Trading of Sailpoint

Several large investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd bought a new stake in Sailpoint in the 1st quarter valued at $212,000. Natixis Advisors LLC bought a new stake in Sailpoint in the 1st quarter valued at $835,000. Burkehill Global Management LP bought a new stake in Sailpoint in the 1st quarter valued at $8,438,000. Assetmark Inc. bought a new stake in Sailpoint in the 1st quarter valued at $32,000. Finally, Alberta Investment Management Corp bought a new stake in Sailpoint in the 1st quarter valued at $938,000.

About Sailpoint

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.