SailPoint (NASDAQ:SAIL) Shares Gap Up – Still a Buy?

SailPoint, Inc. (NASDAQ:SAIL)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $20.32, but opened at $21.15. SailPoint shares last traded at $20.1970, with a volume of 1,381,420 shares changing hands.

Analyst Upgrades and Downgrades

SAIL has been the topic of a number of recent research reports. Rosenblatt Securities reissued a “neutral” rating and issued a $17.00 target price on shares of SailPoint in a report on Thursday, September 10th. Wolfe Research reaffirmed an “outperform” rating and issued a $18.00 target price on shares of SailPoint in a report on Wednesday, June 10th. Jefferies Financial Group restated a “buy” rating and issued a $23.00 price target on shares of SailPoint in a research report on Friday, September 4th. Evercore restated an “outperform” rating on shares of SailPoint in a research report on Thursday, September 10th. Finally, Stephens reissued an “overweight” rating and issued a $20.00 target price on shares of SailPoint in a research note on Wednesday, June 17th. Nineteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, SailPoint currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.38.

SailPoint Stock Up 0.3%

The stock has a market cap of $11.64 billion, a price-to-earnings ratio of -59.78, a PEG ratio of 2.18 and a beta of 2.17. The stock has a fifty day moving average of $17.92 and a two-hundred day moving average of $15.28.

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

Insiders Place Their Bets

In related news, CFO Brian Carolan sold 46,002 shares of the firm’s stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $15.42, for a total transaction of $709,350.84. Following the sale, the chief financial officer directly owned 1,707,742 shares in the company, valued at approximately $26,333,381.64. This trade represents a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 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 McClain sold 93,260 shares of the stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $15.42, for a total transaction of $1,438,069.20. Following the completion of the sale, the chief executive officer directly owned 8,093,870 shares of the company’s stock, valued at $124,807,475.40. This trade represents a 1.14% 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. In the last quarter, insiders have sold 491,559 shares of company stock valued at $7,809,391. Company insiders own 1.70% of the company’s stock.

Institutional Trading of SailPoint

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Palladiem LLC bought a new stake in shares of SailPoint in the 4th quarter worth about $42,000. Gables Capital Management Inc. acquired a new stake in shares of SailPoint during the 2nd quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. acquired a new stake in SailPoint in the second quarter worth $50,000. State of Wyoming acquired a new stake in shares of SailPoint in the 2nd quarter worth about $56,000. Finally, Legal & General Group Plc bought a new stake in shares of SailPoint during the second quarter valued at approximately $94,000.

About SailPoint

SailPoint Technologies, Inc (NASDAQ: SAIL) is a cybersecurity company focused on identity security. Its software helps organizations manage and protect digital identities, control access to applications and data, and enforce policies governing employee, contractor, customer, and machine access across enterprise environments.

The company’s offerings include SailPoint Identity Security Cloud, a cloud-based platform designed to provide identity governance, access reviews, lifecycle management, and automated provisioning.