SailPoint (NASDAQ:SAIL) Shares Up 4.9% – Here’s What Happened

SailPoint, Inc. (NASDAQ:SAIL)’s share price traded up 4.9% on Tuesday . The stock traded as high as $15.45 and last traded at $14.9130. 1,636,369 shares were traded during mid-day trading, a decline of 52% from the average session volume of 3,410,090 shares. The stock had previously closed at $14.21.

Wall Street Analysts Forecast Growth

SAIL has been the topic of a number of research analyst reports. TD Cowen cut their price target on shares of SailPoint from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Tuesday, February 24th. Robert W. Baird cut their price target on shares of SailPoint from $26.00 to $22.00 and set an “outperform” rating on the stock in a research report on Thursday, March 19th. Wolfe Research reaffirmed an “outperform” rating and set a $18.00 price target on shares of SailPoint in a research report on Wednesday, June 10th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $23.00 price target on shares of SailPoint in a research report on Wednesday, June 10th. Finally, Roth Mkm initiated coverage on shares of SailPoint in a research report on Wednesday, May 20th. They set a “buy” rating and a $19.00 price target on the stock. Two analysts have rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $20.37.

SailPoint Price Performance

The firm’s fifty day moving average price is $13.80 and its two-hundred day moving average price is $15.85. The stock has a market cap of $7.96 billion, a price-to-earnings ratio of -52.71 and a beta of 2.00.

SailPoint (NASDAQ:SAIL) last announced its quarterly earnings data on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. The firm had revenue of $280.14 million for the quarter. During the same quarter in the prior year, the company posted $0.01 EPS. SailPoint’s revenue for the quarter was up 21.5% on a year-over-year basis. SailPoint has set its Q2 2027 guidance at 0.070-0.080 EPS and its FY 2027 guidance at 0.300-0.340 EPS. On average, equities research analysts anticipate that SailPoint, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Mitra Rezvan sold 7,487 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $20.00, for a total value of $149,740.00. Following the sale, the chief accounting officer owned 189,476 shares in the company, valued at $3,789,520. This represents a 3.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Abby Payne sold 16,930 shares of the company’s stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $11.46, for a total transaction of $194,017.80. Following the completion of the sale, the insider owned 930,506 shares in the company, valued at $10,663,598.76. This represents a 1.79% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 534,449 shares of company stock worth $6,569,848 over the last ninety days. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On SailPoint

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC raised its holdings in shares of SailPoint by 0.8% in the 4th quarter. Cerity Partners LLC now owns 115,604 shares of the company’s stock worth $2,339,000 after acquiring an additional 923 shares during the last quarter. Essex Financial Services Inc. raised its holdings in shares of SailPoint by 7.8% in the 3rd quarter. Essex Financial Services Inc. now owns 13,157 shares of the company’s stock worth $291,000 after acquiring an additional 947 shares during the last quarter. Main Management ETF Advisors LLC raised its holdings in shares of SailPoint by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 102,573 shares of the company’s stock worth $2,075,000 after acquiring an additional 1,048 shares during the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in shares of SailPoint in the 3rd quarter worth about $31,000. Finally, Federation des caisses Desjardins du Quebec raised its holdings in shares of SailPoint by 24.1% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 7,871 shares of the company’s stock worth $159,000 after acquiring an additional 1,528 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.