Sailpoint Technologies (NYSE:SAIL) had its target price raised by research analysts at Jefferies Financial Group from $26.00 to $28.00 in a research report issued on Thursday, The Fly reports. The brokerage currently has an “in-line” rating on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 21.79% from the stock’s previous close.
Several other analysts also recently issued reports on SAIL. Rosenblatt Securities reiterated a “hold” rating and set a $23.00 price target on shares of Sailpoint Technologies in a research note on Thursday. SunTrust Banks assumed coverage on Sailpoint Technologies in a research note on Wednesday, October 2nd. They set a “buy” rating and a $25.00 price target for the company. Piper Jaffray Companies set a $27.00 price target on Sailpoint Technologies and gave the stock an “overweight” rating in a research note on Wednesday, August 7th. Canaccord Genuity decreased their price target on Sailpoint Technologies from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, October 17th. Finally, Zacks Investment Research downgraded Sailpoint Technologies from a “buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Sailpoint Technologies has a consensus rating of “Buy” and an average target price of $27.40.
SAIL stock traded up $1.00 during mid-day trading on Thursday, hitting $22.99. The stock had a trading volume of 2,018,753 shares, compared to its average volume of 1,290,271. Sailpoint Technologies has a 1-year low of $16.63 and a 1-year high of $32.25. The company has a fifty day moving average of $19.25 and a 200 day moving average of $20.73. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 143.69 and a beta of 2.01.
Sailpoint Technologies (NYSE:SAIL) last issued its earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.11. Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The company had revenue of $75.88 million for the quarter, compared to analyst estimates of $70.50 million. During the same period in the prior year, the firm posted $0.12 EPS. The business’s revenue was up 15.4% compared to the same quarter last year. As a group, equities analysts anticipate that Sailpoint Technologies will post -0.09 earnings per share for the current year.
In related news, Director William G. Bock sold 4,000 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $21.21, for a total transaction of $84,840.00. Following the completion of the sale, the director now owns 97,347 shares in the company, valued at approximately $2,064,729.87. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO James Cameron Mcmartin sold 60,000 shares of the stock in a transaction that occurred on Monday, October 7th. The shares were sold at an average price of $18.52, for a total value of $1,111,200.00. In the last quarter, insiders have sold 256,000 shares of company stock valued at $5,075,760. 4.10% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in SAIL. Soma Equity Partners LP bought a new stake in Sailpoint Technologies during the 2nd quarter valued at approximately $62,124,000. Bank of America Corp DE boosted its stake in Sailpoint Technologies by 207.8% during the 2nd quarter. Bank of America Corp DE now owns 2,701,115 shares of the company’s stock valued at $54,131,000 after purchasing an additional 1,823,432 shares during the period. TimesSquare Capital Management LLC boosted its stake in Sailpoint Technologies by 105.5% during the 2nd quarter. TimesSquare Capital Management LLC now owns 1,888,970 shares of the company’s stock valued at $37,855,000 after purchasing an additional 969,885 shares during the period. Carlson Capital L P bought a new stake in Sailpoint Technologies during the 2nd quarter valued at approximately $11,806,000. Finally, First Trust Advisors LP boosted its stake in Sailpoint Technologies by 79.5% during the 2nd quarter. First Trust Advisors LP now owns 1,224,875 shares of the company’s stock valued at $24,546,000 after purchasing an additional 542,470 shares during the period. Hedge funds and other institutional investors own 92.59% 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.
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