SailPoint (NASDAQ:SAIL) Upgraded to “Strong-Buy” at Roth Mkm

Roth Mkm upgraded shares of SailPoint (NASDAQ:SAIL) to a strong-buy rating in a report released on Wednesday morning,Zacks.com reports.

A number of other equities analysts also recently weighed in on SAIL. Cantor Fitzgerald reiterated an “overweight” rating and issued a $23.00 target price on shares of SailPoint in a report on Monday, March 23rd. Barclays dropped their target price on SailPoint from $23.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, March 16th. Robert W. Baird dropped their target price on SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a report on Thursday, March 19th. JPMorgan Chase & Co. cut their price objective on shares of SailPoint from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Finally, Mizuho cut their price objective on shares of SailPoint from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 17th. Three investment analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, SailPoint has a consensus rating of “Moderate Buy” and an average price target of $21.19.

SailPoint Stock Up 0.2%

SAIL stock opened at $15.01 on Wednesday. The company has a market capitalization of $8.51 billion, a P/E ratio of -26.80 and a beta of 1.09. The company has a 50-day simple moving average of $12.66 and a 200 day simple moving average of $16.17. SailPoint has a fifty-two week low of $10.30 and a fifty-two week high of $24.95.

SailPoint (NASDAQ:SAIL) last issued its quarterly earnings results on Wednesday, March 18th. The company reported $0.08 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.08. SailPoint had a negative net margin of 25.20% and a positive return on equity of 1.95%. The company had revenue of $294.65 million during the quarter. During the same period in the previous year, the company posted ($4.29) earnings per share. SailPoint’s revenue was up 22.9% compared to the same quarter last year. Equities analysts anticipate that SailPoint will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Brian Carolan sold 47,444 shares of the firm’s stock in a transaction on Thursday, April 9th. The shares were sold at an average price of $11.46, for a total value of $543,708.24. Following the sale, the chief financial officer owned 1,786,212 shares in the company, valued at approximately $20,469,989.52. This trade represents a 2.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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, President Matt Mills sold 34,171 shares of the firm’s stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $11.46, for a total value of $391,599.66. Following the completion of the transaction, the president directly owned 2,451,334 shares of the company’s stock, valued at approximately $28,092,287.64. This trade represents a 1.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 526,962 shares of company stock valued at $6,420,108 in the last 90 days. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SAIL. Aster Capital Management DIFC Ltd bought a new position in shares of SailPoint in the third quarter valued at about $31,000. Palladiem LLC bought a new position in shares of SailPoint in the fourth quarter valued at about $42,000. Kestra Advisory Services LLC bought a new position in shares of SailPoint in the fourth quarter valued at about $42,000. State of Wyoming bought a new stake in SailPoint during the 2nd quarter worth about $45,000. Finally, CWM LLC raised its holdings in SailPoint by 315.6% during the 4th quarter. CWM LLC now owns 2,656 shares of the company’s stock worth $54,000 after purchasing an additional 2,017 shares during the last quarter.

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.