Sailpoint Technologies (NYSE:SAIL) had its price target raised by Jefferies Financial Group from $26.00 to $28.00 in a report issued on Thursday, The Fly reports. The firm currently has an in-line rating on the stock.
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Several other equities research analysts also recently weighed in on SAIL. Royal Bank of Canada restated a buy rating on shares of Sailpoint Technologies in a report on Thursday, August 8th. SunTrust Banks started coverage on Sailpoint Technologies in a report on Wednesday, October 2nd. They set a buy rating and a $25.00 price target on the stock. Zacks Investment Research downgraded Sailpoint Technologies from a buy rating to a hold rating in a report on Friday, October 4th. Piper Jaffray Companies set a $27.00 price target on Sailpoint Technologies and gave the stock an overweight rating in a report on Wednesday, August 7th. Finally, Canaccord Genuity cut their price target on Sailpoint Technologies from $22.00 to $18.00 and set a hold rating on the stock in a report on Thursday, October 17th. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $27.40.
NYSE SAIL traded up $1.00 during trading hours on Thursday, hitting $22.99. 2,018,753 shares of the company were exchanged, compared to its average volume of 1,290,271. The company has a 50 day moving average of $19.25 and a two-hundred day moving average of $20.73. Sailpoint Technologies has a 52-week low of $16.63 and a 52-week high of $32.25. The firm has a market cap of $1.79 billion, a price-to-earnings ratio of 143.69 and a beta of 2.01.
Sailpoint Technologies (NYSE:SAIL) last issued its quarterly earnings results on Wednesday, November 6th. The company reported $0.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.11. Sailpoint Technologies had a positive return on equity of 1.99% and a negative net margin of 3.39%. The company had revenue of $75.88 million for the quarter, compared to the consensus estimate of $70.50 million. During the same quarter in the prior year, the business earned $0.12 EPS. Sailpoint Technologies’s revenue was up 15.4% on a year-over-year basis. Equities analysts expect that Sailpoint Technologies will post -0.09 EPS for the current fiscal year.
In related news, COO James Cameron Mcmartin sold 60,000 shares of the company’s stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $18.52, for a total value of $1,111,200.00. Also, Director James Michael Pflaging sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $21.78, for a total value of $87,120.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,000 shares of company stock valued at $5,075,760. Insiders own 4.10% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. HM Payson & Co. acquired a new stake in shares of Sailpoint Technologies in the 2nd quarter valued at about $25,000. Manchester Financial Inc. acquired a new stake in shares of Sailpoint Technologies in the 2nd quarter valued at about $27,000. Usca Ria LLC acquired a new stake in shares of Sailpoint Technologies in the 3rd quarter valued at about $37,000. Aperio Group LLC acquired a new stake in shares of Sailpoint Technologies in the 2nd quarter valued at about $41,000. Finally, Optimum Investment Advisors boosted its position in shares of Sailpoint Technologies by 17.8% in the 2nd quarter. Optimum Investment Advisors now owns 5,950 shares of the company’s stock valued at $119,000 after purchasing an additional 900 shares during the period. 92.59% of the stock is owned by hedge funds and other institutional investors.
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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