Sailpoint Technologies (NYSE:SAIL) had its price target upped by Oppenheimer from $28.00 to $35.00 in a report published on Thursday, The Fly reports. The firm currently has an outperform rating on the stock.
Other research analysts have also recently issued reports about the company. Canaccord Genuity upped their price target on Sailpoint Technologies from $24.00 to $25.00 and gave the stock a hold rating in a research note on Thursday. Needham & Company LLC upped their price target on Sailpoint Technologies from $29.00 to $30.00 and gave the stock a buy rating in a research note on Thursday. Jefferies Financial Group upped their price target on Sailpoint Technologies to $33.00 and gave the stock a buy rating in a research note on Thursday, June 14th. BTIG Research assumed coverage on Sailpoint Technologies in a research note on Wednesday, May 30th. They set a buy rating and a $30.00 price target on the stock. Finally, Zacks Investment Research upgraded Sailpoint Technologies from a sell rating to a hold rating in a research note on Wednesday, July 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Sailpoint Technologies presently has an average rating of Buy and a consensus price target of $29.45.
Sailpoint Technologies traded down $0.37, reaching $28.83, during trading hours on Thursday, Marketbeat Ratings reports. 731,246 shares of the stock were exchanged, compared to its average volume of 785,374. The company has a quick ratio of 2.14, a current ratio of 1.47 and a debt-to-equity ratio of 0.03. Sailpoint Technologies has a twelve month low of $12.82 and a twelve month high of $30.39. The stock has a market capitalization of $2.56 billion and a price-to-earnings ratio of 720.75.
Sailpoint Technologies (NYSE:SAIL) last released its quarterly earnings results on Wednesday, August 8th. The company reported $0.03 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The firm had revenue of $54.60 million for the quarter, compared to analyst estimates of $50.02 million. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. sell-side analysts expect that Sailpoint Technologies will post -0.15 EPS for the current fiscal year.
In other news, CRO Howard R. Greenfield sold 50,000 shares of the stock in a transaction on Tuesday, May 22nd. The stock was sold at an average price of $21.95, for a total value of $1,097,500.00. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Thomas Arthur Beck sold 5,000 shares of the stock in a transaction on Thursday, May 17th. The shares were sold at an average price of $22.42, for a total value of $112,100.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,969,816 shares of company stock worth $456,423,773.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new stake in shares of Sailpoint Technologies in the second quarter valued at $323,000. Federated Investors Inc. PA increased its holdings in Sailpoint Technologies by 73.8% in the second quarter. Federated Investors Inc. PA now owns 538,747 shares of the company’s stock valued at $13,220,000 after buying an additional 228,747 shares during the last quarter. FMR LLC increased its holdings in Sailpoint Technologies by 79.8% in the second quarter. FMR LLC now owns 1,910,500 shares of the company’s stock valued at $46,884,000 after buying an additional 848,084 shares during the last quarter. Sullivan Bruyette Speros & Blaney LLC purchased a new position in Sailpoint Technologies in the second quarter valued at $716,000. Finally, BlackRock Inc. increased its holdings in Sailpoint Technologies by 69.3% in the second quarter. BlackRock Inc. now owns 3,511,287 shares of the company’s stock valued at $86,166,000 after buying an additional 1,436,925 shares during the last quarter. Institutional investors and hedge funds own 25.44% of the company’s stock.
About Sailpoint Technologies
SailPoint Technologies Holdings, Inc designs, develops, and markets identity governance software solutions in North America, Europe, and the Asia Pacific. The company offers on-premises software and cloud-based solutions, which empower organizations to govern the digital identities of employees, contractors, business partners, and other users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments.
See Also: Outstanding Shares
Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.