BMO Capital Markets Boosts Sailpoint (NYSE:SAIL) Price Target to $27.00

Sailpoint (NYSE:SAIL) had its price objective lifted by research analysts at BMO Capital Markets from $26.00 to $27.00 in a research note issued on Thursday, MarketBeat.com reports. The brokerage presently has an “outperform” rating on the stock. BMO Capital Markets’ target price points to a potential upside of 19.84% from the stock’s previous close.

Several other brokerages have also commented on SAIL. TD Cowen assumed coverage on shares of Sailpoint in a report on Monday, March 10th. They issued a “buy” rating and a $30.00 price objective on the stock. Evercore ISI assumed coverage on shares of Sailpoint in a report on Monday, March 10th. They issued an “outperform” rating and a $29.00 target price for the company. Bank of America assumed coverage on Sailpoint in a research note on Monday, March 10th. They set a “buy” rating and a $27.50 price target on the stock. Wells Fargo & Company assumed coverage on Sailpoint in a research report on Monday, April 14th. They set an “equal weight” rating and a $16.00 price target for the company. Finally, Barclays set a $23.00 price objective on Sailpoint and gave the company an “overweight” rating in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Sailpoint presently has an average rating of “Moderate Buy” and a consensus price target of $25.90.

Sailpoint Stock Up 14.7%

SAIL stock opened at $22.53 on Thursday. Sailpoint has a 52-week low of $15.05 and a 52-week high of $26.35. The stock’s fifty day simple moving average is $17.77.

Sailpoint (NYSE:SAIL) last released its quarterly earnings results on Wednesday, March 26th. The company reported ($4.29) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.01) by ($4.28). The firm had revenue of $240.10 million during the quarter, compared to analyst estimates of $229.69 million.

Institutional Trading of Sailpoint

A number of large investors have recently made changes to their positions in SAIL. Assetmark Inc. acquired a new stake in shares of Sailpoint during the 1st quarter worth about $32,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of Sailpoint during the first quarter worth $49,000. Quarry LP purchased a new stake in shares of Sailpoint in the first quarter valued at about $70,000. Picton Mahoney Asset Management acquired a new position in Sailpoint during the 1st quarter worth approximately $87,000. Finally, PNC Financial Services Group Inc. purchased a new position in Sailpoint in the first quarter worth $150,000.

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.