SailPoint (NASDAQ:SAIL) Trading Up 9.5% – Here’s What Happened

SailPoint, Inc. (NASDAQ:SAIL)’s share price traded up 9.5% on Tuesday . The company traded as high as $15.28 and last traded at $15.3380. 1,306,345 shares changed hands during trading, a decline of 64% from the average session volume of 3,636,821 shares. The stock had previously closed at $14.01.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SAIL shares. Truist Financial set a $18.00 price target on SailPoint in a research report on Wednesday, June 17th. BTIG Research reaffirmed a “buy” rating and set a $18.00 price target on shares of SailPoint in a report on Tuesday, June 9th. Roth Capital initiated coverage on shares of SailPoint in a report on Wednesday, May 20th. They set a “buy” rating and a $19.00 price objective for the company. Mizuho set a $16.00 price target on SailPoint in a report on Wednesday, June 10th. Finally, JPMorgan Chase & Co. cut their price target on SailPoint from $26.00 to $22.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, SailPoint currently has an average rating of “Moderate Buy” and a consensus target price of $20.08.

SailPoint Trading Down 0.5%

The company has a market cap of $8.58 billion, a P/E ratio of -56.03, a P/E/G ratio of 1.69 and a beta of 2.20. The firm has a 50 day moving average of $14.83 and a 200-day moving average of $14.92.

SailPoint (NASDAQ:SAIL) last issued its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The firm had revenue of $280.14 million during the quarter. During the same quarter in the prior year, the company posted $0.01 EPS. SailPoint’s revenue was up 21.5% compared to the same quarter last year. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. Equities analysts predict that SailPoint, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mitra Rezvan sold 3,881 shares of the company’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 $59,845.02. Following the sale, the chief accounting officer owned 182,641 shares of the company’s stock, valued at $2,816,324.22. This represents a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 SailPoint stock in a transaction on Wednesday, July 8th. The stock was 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 directly owned 8,093,870 shares of the company’s stock, valued at $124,807,475.40. The trade was a 1.14% decrease in their ownership of the stock. 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. Insiders have sold a total of 497,832 shares of company stock valued at $7,934,851 in the last three months. Corporate insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On SailPoint

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Palladiem LLC purchased a new position in shares of SailPoint in the 4th quarter worth approximately $42,000. Kestra Advisory Services LLC bought a new stake in SailPoint during the 4th quarter valued at about $42,000. State of Wyoming purchased a new stake in shares of SailPoint in the second quarter valued at approximately $45,000. CWM LLC lifted its holdings in shares of SailPoint by 315.6% in the 4th quarter. CWM LLC now owns 2,656 shares of the company’s stock worth $54,000 after buying an additional 2,017 shares during the period. Finally, Farther Finance Advisors LLC lifted its stake in SailPoint by 208.2% in the fourth quarter. Farther Finance Advisors LLC now owns 3,070 shares of the company’s stock worth $62,000 after acquiring an additional 2,074 shares during the period.

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.