Rosenblatt Securities restated their hold rating on shares of Sailpoint Technologies (NYSE:SAIL) in a report released on Thursday, AnalystRatings.com reports. The brokerage currently has a $23.00 price target on the stock.
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A number of other analysts have also weighed in on the stock. Zacks Investment Research lowered shares of Sailpoint Technologies from a buy rating to a hold rating in a research note on Friday, October 4th. Piper Jaffray Companies set a $27.00 price objective on shares of Sailpoint Technologies and gave the stock an overweight rating in a research note on Wednesday, August 7th. SunTrust Banks started coverage on shares of Sailpoint Technologies in a research note on Wednesday, October 2nd. They issued a buy rating and a $25.00 price objective for the company. Royal Bank of Canada reiterated a buy rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. Finally, Canaccord Genuity cut their price objective on shares of Sailpoint Technologies from $22.00 to $18.00 and set a hold rating on the stock in a report on Thursday, October 17th. Seven research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Sailpoint Technologies presently has a consensus rating of Buy and a consensus target price of $27.40.
NYSE:SAIL traded up $1.00 during mid-day trading on Thursday, reaching $22.99. The company’s 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 stock has a fifty day moving average of $19.25 and a 200-day moving average of $20.73. The firm has a market capitalization of $1.79 billion, a PE ratio of 143.69 and a beta of 2.01.
Sailpoint Technologies (NYSE:SAIL) last released its quarterly earnings data on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.11. Sailpoint Technologies had a negative net margin of 3.39% and a positive return on equity of 1.99%. The company had revenue of $75.88 million during the quarter, compared to analyst estimates of $70.50 million. During the same period in the prior year, the firm earned $0.12 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. As a group, equities analysts forecast that Sailpoint Technologies will post -0.09 earnings per share for the current year.
In other news, COO James Cameron Mcmartin sold 60,000 shares of the stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $18.52, for a total transaction of $1,111,200.00. Also, Director James Michael Pflaging sold 5,000 shares of the stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $20.09, for a total transaction of $100,450.00. In the last 90 days, insiders sold 256,000 shares of company stock valued at $5,075,760. 4.10% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Optimum Investment Advisors lifted its stake in Sailpoint Technologies by 17.8% in the 2nd quarter. Optimum Investment Advisors now owns 5,950 shares of the company’s stock valued at $119,000 after purchasing an additional 900 shares during the last quarter. HM Payson & Co. acquired a new stake in Sailpoint Technologies in the 2nd quarter valued at about $25,000. Manchester Financial Inc. acquired a new stake in Sailpoint Technologies in the 2nd quarter valued at about $27,000. Usca Ria LLC acquired a new stake in Sailpoint Technologies in the 3rd quarter valued at about $37,000. Finally, Aperio Group LLC acquired a new stake in Sailpoint Technologies in the 2nd quarter valued at about $41,000. 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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