SailPoint (NASDAQ:SAIL) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

SailPoint, Inc. (NASDAQ:SAIL)’s stock price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $19.95 and traded as high as $20.65. SailPoint shares last traded at $20.36, with a volume of 4,251,774 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley upped their price target on shares of SailPoint from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Scotiabank reiterated an “outperform” rating on shares of SailPoint in a research report on Monday, October 5th. Bank of America lifted their price objective on shares of SailPoint from $19.00 to $22.00 and gave the company a “neutral” rating in a research note on Friday, September 18th. Roth Capital restated a “buy” rating and set a $21.00 price objective (up from $19.00) on shares of SailPoint in a research report on Thursday, September 10th. Finally, Truist Financial boosted their price objective on shares of SailPoint from $23.00 to $27.00 and gave the company a “buy” rating in a research report on Thursday, September 24th. Twenty-one analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.20.

SailPoint Price Performance

The company’s 50-day moving average price is $19.95 and its two-hundred day moving average price is $16.17. The company has a market capitalization of $11.62 billion, a price-to-earnings ratio of -59.88, a PEG ratio of 2.09 and a beta of 2.08.

SailPoint (NASDAQ:SAIL) last announced its earnings results on Wednesday, September 9th. The company reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $308.81 million during the quarter. SailPoint had a negative net margin of 16.92% and a positive return on equity of 2.44%. SailPoint’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the business earned ($0.02) EPS. SailPoint has set its FY 2027 guidance at 0.300-0.340 EPS and its Q3 2027 guidance at 0.070-0.080 EPS. On average, equities research analysts expect that SailPoint, Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at SailPoint

In related news, President Matt Mills sold 42,442 shares of the company’s stock in a transaction dated Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total transaction of $836,531.82. Following the sale, the president owned 2,292,872 shares in the company, valued at $45,192,507.12. This represents a 1.82% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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, General Counsel Christopher Schmitt sold 23,367 shares of the firm’s stock in a transaction that occurred on Wednesday, October 7th. The stock was sold at an average price of $19.71, for a total value of $460,563.57. Following the sale, the general counsel directly owned 1,268,311 shares of the company’s stock, valued at $24,998,409.81. This represents a 1.81% 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. In the last 90 days, insiders sold 515,009 shares of company stock worth $10,310,350. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On SailPoint

A number of institutional investors and hedge funds have recently modified their holdings of SAIL. Wasatch Advisors LP acquired a new stake in shares of SailPoint in the 2nd quarter valued at about $66,173,000. The Manufacturers Life Insurance Company raised its stake in SailPoint by 178.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock worth $1,397,000 after buying an additional 67,601 shares during the period. Bank of America Corp DE acquired a new position in SailPoint during the 2nd quarter worth approximately $15,661,000. GSA Capital Partners LLP acquired a new position in SailPoint during the 2nd quarter worth approximately $778,000. Finally, Polianta Ltd bought a new position in SailPoint in the second quarter worth approximately $1,948,000.

About SailPoint

SailPoint Technologies provides identity security software that helps organizations manage and protect access to applications, data and other digital resources. Its platform supports identity governance, access reviews, automated provisioning and policy enforcement for employees, contractors and other users, as well as non-human identities such as software bots.

The company offers cloud-based and customer-managed products, including SailPoint Identity Security Cloud and IdentityIQ. These tools help organizations apply access controls, streamline identity-related processes and meet security and compliance requirements.

Founded in 2005 and headquartered in Austin, Texas, SailPoint serves organizations around the world.