SailPoint (NASDAQ:SAIL) Shares Down 3.8% – Should You Sell?

SailPoint, Inc. (NASDAQ:SAIL)’s share price dropped 3.8% on Wednesday . The company traded as low as $18.62 and last traded at $18.4970. 205,574 shares were traded during trading, a decline of 94% from the average daily volume of 3,577,211 shares. The stock had previously closed at $19.23.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SAIL. Weiss Ratings raised shares of SailPoint from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, August 13th. Barclays increased their price target on shares of SailPoint from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday. Scotiabank reiterated a “sector outperform” rating and issued a $19.00 price target (up from $16.00) on shares of SailPoint in a research note on Tuesday, June 9th. Rosenblatt Securities assumed coverage on SailPoint in a report on Wednesday, July 8th. They issued a “neutral” rating and a $16.00 price objective for the company. Finally, Stephens reaffirmed an “overweight” rating and set a $20.00 target price on shares of SailPoint in a report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, SailPoint presently has an average rating of “Moderate Buy” and a consensus price target of $20.44.

SailPoint Stock Performance

The stock’s fifty day simple moving average is $16.64 and its two-hundred day simple moving average is $14.85. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of -67.93, a P/E/G ratio of 2.15 and a beta of 2.16.

SailPoint (NASDAQ:SAIL) last released its 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. The company had revenue of $280.14 million for the quarter. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company’s revenue was up 21.5% compared to the same quarter last year. During the same period last year, the firm earned $0.01 EPS. 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, equities analysts anticipate that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In other SailPoint news, CFO Brian Carolan sold 46,002 shares of the stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $709,350.84. Following the transaction, the chief financial officer directly owned 1,707,742 shares of the company’s stock, valued at $26,333,381.64. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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, CEO Mark D. Mcclain sold 93,260 shares of the firm’s stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the completion of the transaction, the chief executive officer owned 8,093,870 shares in the company, valued at $124,807,475.40. The trade was a 1.14% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 three months, insiders sold 491,559 shares of company stock valued at $7,809,391. 1.70% of the stock is owned by company insiders.

Institutional Trading of SailPoint

Hedge funds have recently modified their holdings of the stock. Corient Private Wealth LP acquired a new stake in shares of SailPoint in the second quarter valued at approximately $412,000. California State Teachers Retirement System lifted its holdings in SailPoint by 279.2% during the 2nd quarter. California State Teachers Retirement System now owns 12,473 shares of the company’s stock worth $183,000 after buying an additional 9,184 shares in the last quarter. Outfitters Financial LLC lifted its holdings in SailPoint by 4.8% during the 2nd quarter. Outfitters Financial LLC now owns 41,175 shares of the company’s stock worth $603,000 after buying an additional 1,900 shares in the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in SailPoint in the 2nd quarter valued at $1,427,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in SailPoint in the 2nd quarter valued at $7,070,000.

About SailPoint

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.