Sailpoint (NYSE:SAIL) Price Target Raised to $29.00 at Royal Bank of Canada

Sailpoint (NYSE:SAIL) had its price target upped by Royal Bank of Canada from $27.00 to $29.00 in a research note issued to investors on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts also recently issued reports about the stock. Jefferies Financial Group dropped their price target on shares of Sailpoint from $26.00 to $24.00 and set a “buy” rating for the company in a research note on Monday, March 31st. BTIG Research began coverage on shares of Sailpoint in a report on Monday, March 10th. They set a “buy” rating and a $27.00 target price for the company. Wells Fargo & Company upped their target price on shares of Sailpoint from $16.00 to $20.00 and gave the company an “equal weight” rating in a research report on Thursday. Bank of America assumed coverage on Sailpoint in a research note on Monday, March 10th. They issued a “buy” rating and a $27.50 price target on the stock. Finally, Barclays lifted their price objective on Sailpoint from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $26.50.

Sailpoint Trading Down 3.0%

Shares of SAIL opened at $22.61 on Thursday. The firm’s fifty day moving average price is $18.03. Sailpoint has a 12-month low of $15.05 and a 12-month high of $26.35.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stephens Investment Management Group LLC bought a new stake in shares of Sailpoint in the first quarter worth about $23,213,000. Allianz Asset Management GmbH bought a new position in shares of Sailpoint during the 1st quarter valued at about $3,496,000. GW&K Investment Management LLC acquired a new position in shares of Sailpoint in the 1st quarter valued at approximately $2,173,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Sailpoint during the 1st quarter worth approximately $1,683,000. Finally, Assetmark Inc. acquired a new stake in Sailpoint during the 1st quarter worth approximately $32,000.

Sailpoint Company Profile

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.