SailPoint (NASDAQ:SAIL) Shares Gap Up – Time to Buy?

SailPoint, Inc. (NASDAQ:SAIL) gapped up prior to trading on Thursday . The stock had previously closed at $18.22, but opened at $19.47. SailPoint shares last traded at $20.8930, with a volume of 639,605 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SAIL shares. Bank of America reissued a “neutral” rating and set a $16.00 price target on shares of SailPoint in a research report on Friday, June 12th. DA Davidson assumed coverage on shares of SailPoint in a report on Monday, August 3rd. They issued a “neutral” rating and a $17.00 price objective for the company. Barclays lowered their target price on shares of SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, June 10th. Rosenblatt Securities began coverage on shares of SailPoint in a report on Wednesday, July 8th. They set a “neutral” rating and a $16.00 target price on the stock. Finally, Mizuho raised their price target on shares of SailPoint from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.26.

SailPoint Trading Up 13.5%

The business has a 50-day moving average price of $16.08 and a two-hundred day moving average price of $14.71. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of -76.43, a PEG ratio of 1.87 and a beta of 2.08.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 business had revenue of $280.14 million for the quarter. During the same period last year, the business posted $0.01 EPS. The company’s revenue for the quarter was up 21.5% on a year-over-year basis. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, equities research analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Transactions at SailPoint

In other SailPoint news, CEO Mark D. Mcclain sold 93,260 shares of the firm’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total value of $1,438,069.20. Following the sale, the chief executive officer directly owned 8,093,870 shares in the company, valued at approximately $124,807,475.40. This trade represents a 1.14% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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, EVP Chandrasekar Gnanasambandam sold 19,540 shares of the business’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $301,306.80. Following the transaction, the executive vice president directly owned 934,508 shares of the company’s stock, valued at approximately $14,410,113.36. This trade represents a 2.05% 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 499,046 shares of company stock valued at $7,959,131 over the last three months. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. FNY Investment Advisers LLC lifted its position in SailPoint by 12.0% in the second quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock worth $122,000 after purchasing an additional 900 shares during the period. Cerity Partners LLC boosted its stake in SailPoint by 0.8% during the 4th quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock valued at $2,339,000 after purchasing an additional 923 shares in the last quarter. Main Management ETF Advisors LLC boosted its stake in SailPoint by 1.0% during the 4th quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock valued at $2,075,000 after purchasing an additional 1,048 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its position in shares of SailPoint by 24.1% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,871 shares of the company’s stock valued at $159,000 after purchasing an additional 1,528 shares during the period. Finally, Outfitters Financial LLC increased its position in shares of SailPoint by 4.8% during the 2nd quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock valued at $603,000 after purchasing an additional 1,900 shares during the period.

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.