Zacks Investment Research lowered shares of Sailpoint Technologies (NYSE:SAIL) from a buy rating to a hold rating in a report published on Tuesday.

According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include Open Identity Platform, Cloud-based Identity Governance, On-premises Identity Governance, Data Access Governance, Identity Analytics, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “

A number of other analysts have also recently issued reports on the company. Goldman Sachs Group raised Sailpoint Technologies from a neutral rating to a buy rating and increased their target price for the stock from $32.00 to $33.00 in a research note on Monday, November 12th. Morgan Stanley set a $28.00 target price on Sailpoint Technologies and gave the stock a hold rating in a research note on Friday, October 19th. Northland Securities initiated coverage on Sailpoint Technologies in a research note on Tuesday, September 11th. They set a market perform rating and a $34.00 target price for the company. Royal Bank of Canada reaffirmed a buy rating and set a $33.00 price target on shares of Sailpoint Technologies in a research note on Friday, August 10th. Finally, Oppenheimer raised their price target on shares of Sailpoint Technologies from $28.00 to $35.00 and gave the stock an outperform rating in a research note on Thursday, August 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company has a consensus rating of Buy and an average target price of $31.23.

NYSE SAIL traded up $0.48 during trading hours on Tuesday, reaching $24.40. 6,413 shares of the company’s stock were exchanged, compared to its average volume of 1,238,599. Sailpoint Technologies has a one year low of $12.99 and a one year high of $34.60. The stock has a market cap of $2.08 billion and a price-to-earnings ratio of 611.00.

Sailpoint Technologies (NYSE:SAIL) last posted its earnings results on Wednesday, November 7th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.14. Sailpoint Technologies had a positive return on equity of 3.43% and a negative net margin of 2.59%. The business had revenue of $66.42 million during the quarter, compared to analysts’ expectations of $55.22 million. During the same period in the prior year, the business earned ($0.02) EPS. Sailpoint Technologies’s revenue for the quarter was up 52.5% compared to the same quarter last year. Analysts anticipate that Sailpoint Technologies will post 0.04 EPS for the current fiscal year.

In other Sailpoint Technologies news, CRO Howard R. Greenfield sold 50,000 shares of the firm’s stock in a transaction on Friday, September 21st. The stock was sold at an average price of $32.43, for a total transaction of $1,621,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William G. Bock sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 15th. The shares were sold at an average price of $26.19, for a total value of $104,760.00. The disclosure for this sale can be found here. Insiders sold 266,000 shares of company stock valued at $7,997,150 over the last three months. 4.70% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the business. Harvest Fund Management Co. Ltd acquired a new stake in Sailpoint Technologies during the 3rd quarter valued at $106,000. Cubist Systematic Strategies LLC acquired a new stake in Sailpoint Technologies during the 2nd quarter valued at $122,000. Engineers Gate Manager LP acquired a new stake in Sailpoint Technologies during the 3rd quarter valued at $201,000. AMP Capital Investors Ltd acquired a new stake in Sailpoint Technologies during the 3rd quarter valued at $213,000. Finally, Radnor Capital Management LLC acquired a new stake in Sailpoint Technologies during the 3rd quarter valued at $242,000. 63.96% 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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