Shares of Sailpoint Technologies Holdings Inc (NYSE:SAIL) have received a consensus recommendation of “Buy” from the eleven ratings firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $24.70.
Several brokerages have recently issued reports on SAIL. Zacks Investment Research upgraded shares of Sailpoint Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, June 20th. Jefferies Financial Group upped their target price on shares of Sailpoint Technologies to $33.00 and gave the stock a “buy” rating in a research note on Thursday, June 14th. BTIG Research initiated coverage on shares of Sailpoint Technologies in a research report on Wednesday, May 30th. They set a “buy” rating and a $30.00 price objective on the stock. Piper Jaffray Companies initiated coverage on shares of Sailpoint Technologies in a research report on Wednesday, May 30th. They set an “overweight” rating and a $28.00 price objective on the stock. Finally, Canaccord Genuity restated a “hold” rating and set a $24.00 price objective on shares of Sailpoint Technologies in a research report on Wednesday, May 16th.
Shares of NYSE SAIL opened at $24.54 on Friday. The company has a market capitalization of $2.11 billion and a PE ratio of 613.50. Sailpoint Technologies has a 52-week low of $12.82 and a 52-week high of $28.94. The company has a debt-to-equity ratio of 0.21, a quick ratio of 2.14 and a current ratio of 2.14.
Sailpoint Technologies (NYSE:SAIL) last issued its earnings results on Wednesday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.05. The firm had revenue of $49.70 million during the quarter, compared to the consensus estimate of $44.60 million. The company’s revenue was up 40.0% compared to the same quarter last year. research analysts anticipate that Sailpoint Technologies will post -0.15 earnings per share for the current year.
In other Sailpoint Technologies news, CEO Mark D. Mcclain sold 123,000 shares of the company’s stock in a transaction that occurred on Friday, June 15th. The shares were sold at an average price of $27.55, for a total transaction of $3,388,650.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Arthur Beck sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The shares were sold at an average price of $22.42, for a total transaction of $112,100.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,812,816 shares of company stock valued at $452,012,643.
Hedge funds have recently made changes to their positions in the business. Thompson Davis & CO. Inc. increased its stake in shares of Sailpoint Technologies by 53.5% in the first quarter. Thompson Davis & CO. Inc. now owns 16,500 shares of the company’s stock worth $341,000 after purchasing an additional 5,750 shares in the last quarter. Tower Research Capital LLC TRC purchased a new stake in shares of Sailpoint Technologies in the fourth quarter worth $100,000. Stifel Financial Corp increased its stake in shares of Sailpoint Technologies by 7.4% in the first quarter. Stifel Financial Corp now owns 109,146 shares of the company’s stock worth $2,259,000 after purchasing an additional 7,516 shares in the last quarter. Citigroup Inc. purchased a new stake in shares of Sailpoint Technologies in the first quarter worth $158,000. Finally, C M Bidwell & Associates Ltd. purchased a new stake in shares of Sailpoint Technologies in the first quarter worth $182,000. 25.28% of the stock is owned by institutional investors and hedge funds.
About Sailpoint Technologies
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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