SailPoint’s (SAIL) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reissued their overweight rating on shares of SailPoint (NASDAQ:SAIL) in a research note published on Monday morning,Benzinga reports. The firm currently has a $23.00 target price on the stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group decreased their price objective on shares of SailPoint from $21.00 to $18.00 and set a “neutral” rating for the company in a research report on Thursday, March 19th. Mizuho dropped their target price on shares of SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Robert W. Baird cut their price target on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Wells Fargo & Company decreased their price target on shares of SailPoint from $17.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, March 19th. Finally, Royal Bank Of Canada lowered their price objective on shares of SailPoint from $23.00 to $19.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and an average price target of $21.49.

SailPoint Price Performance

SailPoint stock opened at $12.33 on Monday. SailPoint has a 1-year low of $11.83 and a 1-year high of $24.95. The business has a fifty day moving average price of $15.22 and a 200-day moving average price of $18.89. The stock has a market capitalization of $6.95 billion and a price-to-earnings ratio of -22.02.

SailPoint (NASDAQ:SAIL) last announced its earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.08. The company had revenue of $294.65 million for the quarter. SailPoint had a positive return on equity of 1.95% and a negative net margin of 25.20%.The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the prior year, the company earned ($4.29) earnings per share.

Insider Buying and Selling at SailPoint

In other SailPoint news, President Matt Mills sold 21,345 shares of SailPoint stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total transaction of $410,464.35. Following the completion of the sale, the president directly owned 1,882,913 shares in the company, valued at approximately $36,208,416.99. The trade was a 1.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Mark D. Mcclain sold 61,106 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $19.23, for a total transaction of $1,175,068.38. Following the completion of the sale, the chief executive officer directly owned 7,139,202 shares in the company, valued at $137,286,854.46. This trade represents a 0.85% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 354,243 shares of company stock worth $6,924,823 in the last 90 days. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Vident Advisory LLC lifted its position in SailPoint by 6.4% during the fourth quarter. Vident Advisory LLC now owns 55,823 shares of the company’s stock valued at $1,129,000 after purchasing an additional 3,370 shares during the period. one8zero8 LLC grew its position in SailPoint by 2.0% during the 4th quarter. one8zero8 LLC now owns 105,550 shares of the company’s stock worth $2,135,000 after purchasing an additional 2,050 shares during the period. Occudo Quantitative Strategies LP acquired a new position in shares of SailPoint in the 4th quarter valued at about $606,000. Balyasny Asset Management L.P. lifted its holdings in shares of SailPoint by 126.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 535,475 shares of the company’s stock valued at $10,833,000 after buying an additional 299,356 shares during the period. Finally, Freestone Grove Partners LP boosted its stake in shares of SailPoint by 69.8% in the fourth quarter. Freestone Grove Partners LP now owns 500,000 shares of the company’s stock worth $10,115,000 after buying an additional 205,606 shares during the last quarter.

SailPoint Company Profile

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.