SailPoint (NASDAQ:SAIL) Stock Price Up 5.4% – Still a Buy?

SailPoint, Inc. (NASDAQ:SAIL) traded up 5.4% during trading on Monday . The company traded as high as $12.39 and last traded at $12.4050. 427,501 shares were traded during trading, a decline of 86% from the average session volume of 2,965,992 shares. The stock had previously closed at $11.77.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Royal Bank Of Canada cut their target price on shares of SailPoint from $23.00 to $19.00 and set an “outperform” rating on the stock in a research note on Thursday, March 19th. Robert W. Baird decreased their price target on SailPoint from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Thursday, March 19th. Barclays cut their price objective on SailPoint from $23.00 to $20.00 and set an “overweight” rating on the stock in a research note on Monday, March 16th. BMO Capital Markets reaffirmed an “outperform” rating on shares of SailPoint in a report on Thursday, December 11th. Finally, TD Cowen decreased their target price on SailPoint from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.49.

SailPoint Trading Up 3.5%

The company’s 50-day moving average is $14.96 and its two-hundred day moving average is $18.75. The stock has a market capitalization of $6.87 billion and a P/E ratio of -21.59.

SailPoint (NASDAQ:SAIL) last posted its earnings results on Wednesday, March 18th. The company reported $0.08 EPS for the quarter, hitting the consensus estimate of $0.08. The firm had revenue of $294.65 million during the quarter. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. SailPoint’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the company posted ($4.29) EPS.

Insider Transactions at SailPoint

In other news, CAO Mitra Rezvan sold 3,782 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $19.57, for a total value of $74,013.74. Following the completion of the transaction, the chief accounting officer owned 119,109 shares of the company’s stock, valued at approximately $2,330,963.13. This represents a 3.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, General Counsel Christopher Schmitt sold 4,507 shares of the firm’s stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $19.57, for a total value of $88,201.99. Following the transaction, the general counsel directly owned 1,043,319 shares in the company, valued at $20,417,752.83. This trade represents a 0.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 354,243 shares of company stock worth $6,924,823 over the last quarter.

Hedge Funds Weigh In On SailPoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of SailPoint during the fourth quarter valued at approximately $234,681,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in SailPoint in the second quarter worth approximately $64,453,000. UBS Group AG boosted its stake in SailPoint by 116.3% during the 3rd quarter. UBS Group AG now owns 4,128,038 shares of the company’s stock valued at $91,147,000 after purchasing an additional 2,219,593 shares in the last quarter. Artisan Partners Limited Partnership bought a new position in SailPoint during the 4th quarter valued at $35,203,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of SailPoint during the 3rd quarter valued at $26,365,000.

SailPoint Company Profile

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.