SailPoint, Inc. (NASDAQ:SAIL) Stock Has Consensus Price Target of $21.99 According to Brokerages

SailPoint, Inc. (NASDAQ:SAIL) has received an average rating of “Moderate Buy” from the twenty-eight analysts that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and twenty-one have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $22.20.

SAIL has been the subject of a number of research analyst reports. Cantor Fitzgerald boosted their target price on SailPoint from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, October 9th. HC Wainwright reissued a “buy” rating on shares of SailPoint in a research note on Monday. Roth Capital restated a “buy” rating and set a $21.00 price objective (up from $19.00) on shares of SailPoint in a report on Thursday, September 10th. Robert W. Baird increased their target price on SailPoint from $22.00 to $25.00 and gave the stock an “outperform” rating in a report on Thursday, October 8th. Finally, DA Davidson reissued a “neutral” rating and issued a $17.00 price target on shares of SailPoint in a research report on Thursday, September 10th.

SailPoint Price Performance

Shares of SAIL stock opened at $19.30 on Thursday. The stock has a market capitalization of $11.02 billion, a PE ratio of 64.57, a PEG ratio of 2.05 and a beta of 2.15. The business’s 50 day simple moving average is $19.49 and its 200 day simple moving average is $16.04. SailPoint has a one year low of $10.30 and a one year high of $23.89.

SailPoint (NASDAQ:SAIL) last released its earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $308.81 million for the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. SailPoint’s quarterly revenue was up 17.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) EPS. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. As a group, research analysts expect that SailPoint will post 0.33 earnings per share for the current year.

Insider Buying and Selling at SailPoint

In other news, CEO Mark McClain sold 115,356 shares of the stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total value of $2,273,666.76. Following the completion of the sale, the chief executive officer owned 7,874,621 shares in the company, valued at $155,208,779.91. This represents a 1.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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, EVP Chandrasekar Gnanasambandam sold 22,609 shares of the stock in a transaction dated Wednesday, October 7th. The shares were sold at an average price of $19.71, for a total transaction of $445,623.39. Following the completion of the sale, the executive vice president owned 898,821 shares of the company’s stock, valued at approximately $17,715,761.91. This trade represents a 2.45% decrease in their position. 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. Insiders have sold a total of 510,804 shares of company stock valued at $10,215,738 in the last three months. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On SailPoint

Institutional investors have recently added to or reduced their stakes in the business. Wasatch Advisors LP bought a new position in shares of SailPoint in the second quarter valued at approximately $66,173,000. BlackRock Inc. purchased a new stake in SailPoint during the second quarter valued at about $65,050,000. Freestone Grove Partners LP purchased a new stake in SailPoint in the second quarter worth approximately $21,266,000. Bamco Inc. NY purchased a new position in SailPoint in the 2nd quarter worth $15,914,000. Finally, Bank of America Corp DE purchased a new position in shares of SailPoint in the second quarter worth about $15,661,000.

SailPoint Company Profile

SailPoint, Inc (NASDAQ:SAIL) is an identity security company that helps organizations manage and protect digital identities and access to applications, data, and other technology resources. Its software is designed to help enterprises determine who should have access to specific resources, enforce access policies, and identify and address inappropriate or excessive access.

The company’s offerings include its cloud-based identity security platform, which supports identity governance, access management, lifecycle automation, compliance, and analytics.