Monness Crespi & Hardt Lowers Sailpoint Technologies (SAIL) to Neutral

Sailpoint Technologies (NYSE:SAIL) was downgraded by research analysts at Monness Crespi & Hardt from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, Marketbeat.com reports.

A number of other equities analysts also recently commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $26.00 price objective (down previously from $30.00) on shares of Sailpoint Technologies in a research note on Thursday. Zacks Investment Research lowered shares of Sailpoint Technologies from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Summit Insights started coverage on shares of Sailpoint Technologies in a report on Wednesday, April 17th. They issued a “buy” rating and a $35.00 price target on the stock. Northland Securities reaffirmed a “hold” rating and issued a $30.00 price target on shares of Sailpoint Technologies in a report on Wednesday, March 6th. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $35.00 price objective on shares of Sailpoint Technologies in a report on Wednesday, March 6th. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $29.67.

Shares of Sailpoint Technologies stock traded up $0.49 on Thursday, hitting $19.74. 2,011,624 shares of the company traded hands, compared to its average volume of 1,241,612. Sailpoint Technologies has a 52 week low of $18.48 and a 52 week high of $34.60. The company has a market capitalization of $1.70 billion, a PE ratio of 123.38, a P/E/G ratio of 38.50 and a beta of 1.56.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Tuesday, March 5th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.11. Sailpoint Technologies had a negative net margin of 2.14% and a positive return on equity of 3.26%. The firm had revenue of $80.59 million during the quarter, compared to the consensus estimate of $71.01 million. As a group, research analysts expect that Sailpoint Technologies will post 0.03 earnings per share for the current year.

In related news, Director William G. Bock sold 4,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $32.00, for a total transaction of $128,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark D. Mcclain sold 33,000 shares of the business’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $31.72, for a total transaction of $1,046,760.00. The disclosure for this sale can be found here. Insiders have sold 172,890 shares of company stock worth $5,126,670 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Citigroup Inc. lifted its position in Sailpoint Technologies by 75.4% during the fourth quarter. Citigroup Inc. now owns 37,106 shares of the company’s stock valued at $872,000 after purchasing an additional 15,949 shares during the period. Two Sigma Advisers LP lifted its position in Sailpoint Technologies by 126.1% during the fourth quarter. Two Sigma Advisers LP now owns 64,000 shares of the company’s stock valued at $1,503,000 after purchasing an additional 35,700 shares during the period. Chartwell Investment Partners LLC lifted its position in Sailpoint Technologies by 36.9% during the fourth quarter. Chartwell Investment Partners LLC now owns 170,437 shares of the company’s stock valued at $4,004,000 after purchasing an additional 45,949 shares during the period. Vanguard Group Inc. lifted its position in Sailpoint Technologies by 42.6% during the third quarter. Vanguard Group Inc. now owns 5,953,503 shares of the company’s stock valued at $202,538,000 after purchasing an additional 1,778,907 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Sailpoint Technologies by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 296,741 shares of the company’s stock valued at $6,971,000 after purchasing an additional 4,122 shares during the period. Institutional investors own 81.30% of the company’s stock.

About Sailpoint Technologies

SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.

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Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

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