SailPoint (NASDAQ:SAIL) Shares Gap Up – Should You Buy?

SailPoint, Inc. (NASDAQ:SAIL) gapped up before the market opened on Thursday . The stock had previously closed at $18.22, but opened at $19.47. SailPoint shares last traded at $20.8930, with a volume of 639,605 shares traded.

Analysts Set New Price Targets

Several brokerages have issued reports on SAIL. Barclays cut their price objective on SailPoint from $22.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, June 10th. Stephens restated an “overweight” rating and set a $20.00 target price on shares of SailPoint in a report on Wednesday, June 17th. BTIG Research restated a “buy” rating and issued a $18.00 target price on shares of SailPoint in a research note on Tuesday, June 9th. TD Cowen lifted their price target on SailPoint from $19.00 to $22.00 and gave the company a “buy” rating in a report on Monday, August 17th. Finally, Mizuho upped their price target on shares of SailPoint from $16.00 to $18.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, SailPoint currently has an average rating of “Moderate Buy” and a consensus price target of $20.26.

SailPoint Trading Down 3.0%

The stock has a market cap of $11.25 billion, a price-to-earnings ratio of -73.44, a P/E/G ratio of 2.14 and a beta of 2.08. The firm has a fifty day simple moving average of $16.36 and a 200-day simple moving average of $14.79.

SailPoint (NASDAQ:SAIL) last released its earnings results on Tuesday, June 9th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SailPoint had a positive return on equity of 2.31% and a negative net margin of 14.04%.The company had revenue of $280.14 million during the quarter. During the same period last year, the business posted $0.01 earnings per share. The firm’s quarterly revenue 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 analysts predict that SailPoint, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at SailPoint

In other news, CFO Brian Carolan sold 46,002 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total value of $709,350.84. Following the transaction, the chief financial officer owned 1,707,742 shares of the company’s stock, valued at approximately $26,333,381.64. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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 SailPoint stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $16.29, for a total transaction of $1,925,380.26. Following the sale, the chief executive officer owned 8,187,130 shares of the company’s stock, valued at approximately $133,368,347.70. This represents a 1.42% decrease in their position. The SEC filing for this sale provides additional information. 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 quarter, insiders sold 499,046 shares of company stock worth $7,959,131. Insiders own 1.70% of the company’s stock.

Institutional Trading of SailPoint

Several institutional investors and hedge funds have recently made changes to their positions in SAIL. Norges Bank bought a new position in shares of SailPoint in the 4th quarter worth $234,681,000. Wasatch Advisors LP bought a new stake in SailPoint in the second quarter valued at about $66,173,000. The Manufacturers Life Insurance Company increased its holdings in SailPoint by 178.4% in the first quarter. The Manufacturers Life Insurance Company now owns 105,497 shares of the company’s stock valued at $1,397,000 after purchasing an additional 67,601 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in SailPoint by 14.2% in the fourth quarter. Stephens Investment Management Group LLC now owns 1,917,324 shares of the company’s stock valued at $38,787,000 after buying an additional 237,829 shares during the period. Finally, GSA Capital Partners LLP acquired a new position in SailPoint in the second quarter valued at about $778,000.

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.