SailPoint (NASDAQ:SAIL) Stock Price Up 6.5% – Should You Buy?

SailPoint, Inc. (NASDAQ:SAIL) shares were up 6.5% during trading on Tuesday . The company traded as high as $16.91 and last traded at $16.88. 2,757,018 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 3,586,911 shares. The stock had previously closed at $15.85.

Analyst Ratings Changes

SAIL has been the subject of several research reports. JPMorgan Chase & Co. dropped their target price on SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Rosenblatt Securities began coverage on SailPoint in a research note on Wednesday. They issued a “neutral” rating and a $16.00 price objective for the company. Mizuho set a $16.00 price objective on shares of SailPoint in a report on Wednesday, June 10th. Stephens reiterated an “overweight” rating and set a $20.00 target price on shares of SailPoint in a research report on Wednesday, June 17th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $23.00 target price on shares of SailPoint in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.08.

SailPoint Stock Performance

The company has a fifty day simple moving average of $14.54 and a 200 day simple moving average of $15.15. The stock has a market capitalization of $8.42 billion, a price-to-earnings ratio of -54.75, a P/E/G ratio of 1.80 and a beta of 2.20.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating 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 company had revenue of $280.14 million during the quarter. During the same period in the previous year, the company posted $0.01 EPS. The company’s quarterly revenue 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. As a group, equities analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SailPoint news, CAO Mitra Rezvan sold 7,487 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $20.00, for a total transaction of $149,740.00. Following the completion of the transaction, the chief accounting officer owned 189,476 shares in the company, valued at approximately $3,789,520. This trade represents a 3.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

Several institutional investors have recently made changes to their positions in SAIL. Royal Bank of Canada bought a new stake in SailPoint in the 1st quarter valued at about $1,146,000. Goldman Sachs Group Inc. acquired a new stake in SailPoint in the first quarter valued at approximately $7,546,000. JPMorgan Chase & Co. acquired a new stake in SailPoint in the second quarter valued at approximately $692,000. Rhumbline Advisers bought a new stake in shares of SailPoint during the second quarter valued at approximately $1,047,000. Finally, New York State Common Retirement Fund bought a new stake in shares of SailPoint during the second quarter valued at approximately $572,000.

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.