SailPoint (NASDAQ:SAIL) Stock Rating Upgraded by DA Davidson

SailPoint (NASDAQ:SAIL) was upgraded by analysts at DA Davidson to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

SAIL has been the subject of several other research reports. Truist Financial set a $18.00 price objective on shares of SailPoint in a report on Wednesday, June 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $23.00 target price on shares of SailPoint in a report on Wednesday, June 17th. Bank of America reiterated a “neutral” rating and issued a $16.00 target price on shares of SailPoint in a research report on Friday, June 12th. Jefferies Financial Group lowered SailPoint from a “buy” rating to a “buy” rating in a research note on Wednesday, June 17th. Finally, Barclays cut their price target on SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $19.94.

SailPoint Stock Performance

SAIL stock opened at $17.40 on Monday. SailPoint has a one year low of $10.30 and a one year high of $24.00. The company’s fifty day moving average price is $15.38 and its 200-day moving average price is $14.50. The company has a market capitalization of $9.87 billion, a PE ratio of -64.44, a price-to-earnings-growth ratio of 1.91 and a beta of 2.08.

SailPoint (NASDAQ:SAIL) last issued its earnings results on Tuesday, June 9th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $280.14 million during the quarter. SailPoint had a negative net margin of 14.04% and a positive return on equity of 2.31%. SailPoint’s revenue was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.01 EPS. 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, research analysts predict that SailPoint will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Abby Payne sold 21,542 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total transaction of $350,919.18. Following the sale, the insider directly owned 908,964 shares in the company, valued at approximately $14,807,023.56. This represents a 2.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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, CEO Mark D. Mcclain sold 118,194 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $16.29, for a total transaction of $1,925,380.26. Following the completion of the transaction, the chief executive officer directly owned 8,187,130 shares of the company’s stock, valued at approximately $133,368,347.70. The trade was a 1.42% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last ninety days, insiders sold 497,832 shares of company stock worth $7,934,851. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On SailPoint

Several large investors have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. purchased a new stake in SailPoint during the second quarter valued at approximately $2,764,000. Wasatch Advisors LP purchased a new position in shares of SailPoint in the 2nd quarter worth approximately $66,173,000. Handelsbanken Fonder AB increased its position in shares of SailPoint by 13.9% during the 2nd quarter. Handelsbanken Fonder AB now owns 18,000 shares of the company’s stock valued at $264,000 after purchasing an additional 2,200 shares during the last quarter. Polianta Ltd bought a new position in shares of SailPoint during the 2nd quarter valued at approximately $1,948,000. Finally, FNY Investment Advisers LLC increased its position in shares of SailPoint by 12.0% during the 2nd quarter. FNY Investment Advisers LLC now owns 8,400 shares of the company’s stock valued at $122,000 after purchasing an additional 900 shares during the last quarter.

About SailPoint

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.