Rosenblatt Securities Initiates Coverage on SailPoint (NASDAQ:SAIL)

Stock analysts at Rosenblatt Securities assumed coverage on shares of SailPoint (NASDAQ:SAIL) in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm set a “neutral” rating and a $16.00 price target on the stock. Rosenblatt Securities’ target price indicates a potential downside of 1.17% from the stock’s previous close.

A number of other equities analysts have also commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Weiss Ratings reiterated a “sell (e+)” rating on shares of SailPoint in a research note on Wednesday, June 17th. Truist Financial set a $18.00 target price on shares of SailPoint in a report on Wednesday, June 17th. Scotiabank reissued a “sector outperform” rating and set a $19.00 target price (up from $16.00) on shares of SailPoint in a research report on Tuesday, June 9th. Finally, Wells Fargo & Company boosted their price objective on SailPoint from $17.00 to $19.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 10th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SailPoint currently has a consensus rating of “Moderate Buy” and an average target price of $20.08.

SailPoint Stock Performance

SAIL opened at $16.19 on Wednesday. The company has a market cap of $9.18 billion, a PE ratio of -59.96, a price-to-earnings-growth ratio of 1.76 and a beta of 2.20. The stock has a 50-day moving average of $14.47 and a 200-day moving average of $15.19. SailPoint has a 52-week low of $10.30 and a 52-week high of $24.00.

SailPoint (NASDAQ:SAIL) last posted its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $280.14 million during the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The firm’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.01 earnings per share. 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, research analysts predict that SailPoint will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In other SailPoint news, CEO Mark D. Mcclain sold 92,874 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $1,064,336.04. Following the sale, the chief executive officer directly owned 8,305,324 shares in the company, valued at $95,179,013.04. This trade represents a 1.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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, insider Abby Payne sold 16,930 shares of the company’s stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $11.46, for a total transaction of $194,017.80. Following the transaction, the insider directly owned 930,506 shares of the company’s stock, valued at $10,663,598.76. This represents a 1.79% 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. Over the last ninety days, insiders sold 241,273 shares of company stock worth $2,828,928. 1.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On SailPoint

Several large investors have recently added to or reduced their stakes in SAIL. Bank of America Corp DE lifted its position in shares of SailPoint by 40.1% in the 1st quarter. Bank of America Corp DE now owns 1,764,870 shares of the company’s stock worth $23,367,000 after acquiring an additional 504,726 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of SailPoint by 178.4% during the first quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock valued at $1,397,000 after purchasing an additional 67,601 shares during the period. Quantinno Capital Management LP raised its stake in shares of SailPoint by 531.8% in the first quarter. Quantinno Capital Management LP now owns 251,770 shares of the company’s stock valued at $3,333,000 after purchasing an additional 211,922 shares in the last quarter. Renaissance Technologies LLC acquired a new position in shares of SailPoint in the first quarter valued at $5,214,000. Finally, NewEdge Wealth LLC bought a new position in SailPoint in the first quarter worth $1,508,000.

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.