Sailpoint Technologies Holdings Inc (NYSE:SAIL) has been assigned a consensus rating of “Buy” from the thirteen brokerages that are currently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $30.33.

Several equities research analysts have commented on the stock. Northland Securities assumed coverage on shares of Sailpoint Technologies in a research note on Tuesday, September 11th. They issued a “market perform” rating and a $34.00 target price for the company. Zacks Investment Research raised shares of Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research note on Thursday, October 4th. Citigroup upped their target price on shares of Sailpoint Technologies from $33.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 9th. Oppenheimer upped their target price on shares of Sailpoint Technologies from $28.00 to $35.00 and gave the company an “outperform” rating in a research note on Thursday, August 9th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and issued a $33.00 target price on shares of Sailpoint Technologies in a research note on Friday, August 10th.

NYSE:SAIL traded up $1.46 during trading hours on Monday, hitting $27.56. The stock had a trading volume of 1,337,218 shares, compared to its average volume of 963,967. Sailpoint Technologies has a one year low of $12.82 and a one year high of $34.60. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.47 and a current ratio of 1.47. The company has a market capitalization of $2.98 billion and a PE ratio of 689.00.

Sailpoint Technologies (NYSE:SAIL) last issued its earnings results on Wednesday, August 8th. The company reported $0.03 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The firm had revenue of $54.60 million during the quarter, compared to the consensus estimate of $50.02 million. The firm’s revenue was up 38.9% compared to the same quarter last year. On average, sell-side analysts forecast that Sailpoint Technologies will post -0.08 earnings per share for the current year.

In related news, CRO Howard R. Greenfield sold 100,000 shares of the firm’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $29.15, for a total value of $2,915,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William G. Bock sold 8,000 shares of the firm’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $29.44, for a total transaction of $235,520.00. The disclosure for this sale can be found here. Insiders have sold 16,411,500 shares of company stock valued at $448,679,830 in the last three months. 4.70% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in SAIL. Cubist Systematic Strategies LLC bought a new position in Sailpoint Technologies in the second quarter valued at $122,000. Citigroup Inc. acquired a new stake in Sailpoint Technologies in the first quarter valued at $158,000. California Public Employees Retirement System acquired a new stake in Sailpoint Technologies in the second quarter valued at $233,000. Quadrature Capital Ltd acquired a new stake in Sailpoint Technologies in the first quarter valued at $237,000. Finally, Sheets Smith Wealth Management acquired a new stake in Sailpoint Technologies in the second quarter valued at $237,000. 50.61% of the stock is owned by institutional investors and hedge funds.

Sailpoint Technologies Company Profile

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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Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

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