Canaccord Genuity Reiterates Hold Rating for SailPoint Technologies (SAIL)

SailPoint Technologies (NYSE:SAIL)‘s stock had its “hold” rating reiterated by investment analysts at Canaccord Genuity in a research report issued on Wednesday. They currently have a $24.00 price objective on the stock. Canaccord Genuity’s price target suggests a potential upside of 7.43% from the stock’s previous close.

Several other research analysts also recently issued reports on SAIL. Zacks Investment Research upgraded SailPoint Technologies from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Saturday, May 12th. Needham & Company LLC restated a “buy” rating and set a $25.00 price objective (up from $23.50) on shares of SailPoint Technologies in a research report on Monday, March 26th. Royal Bank of Canada restated a “buy” rating and set a $21.00 price objective on shares of SailPoint Technologies in a research report on Friday, February 23rd. Jefferies Group restated a “buy” rating and set a $23.00 price objective on shares of SailPoint Technologies in a research report on Thursday, February 22nd. Finally, KeyCorp restated an “overweight” rating and set a $22.00 price objective (up from $19.00) on shares of SailPoint Technologies in a research report on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $23.33.

SAIL stock opened at $22.34 on Wednesday. SailPoint Technologies has a 12-month low of $22.10 and a 12-month high of $23.63. The company has a debt-to-equity ratio of 0.21, a current ratio of 2.14 and a quick ratio of 2.14. The company has a market cap of $1.98 billion and a PE ratio of 563.00.

SailPoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Wednesday, May 9th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.03) by $0.05. The company had revenue of $49.70 million for the quarter, compared to analyst estimates of $44.60 million. The company’s revenue for the quarter was up 40.0% on a year-over-year basis. analysts forecast that SailPoint Technologies will post 0.09 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. raised its holdings in SailPoint Technologies by 7.0% in the 1st quarter. JPMorgan Chase & Co. now owns 3,323,801 shares of the company’s stock valued at $68,770,000 after acquiring an additional 216,453 shares during the last quarter. BlackRock Inc. raised its holdings in SailPoint Technologies by 247.2% in the 1st quarter. BlackRock Inc. now owns 2,074,362 shares of the company’s stock valued at $42,920,000 after acquiring an additional 1,476,871 shares during the last quarter. Gilder Gagnon Howe & Co. LLC acquired a new position in SailPoint Technologies in the 4th quarter valued at $22,033,000. Cortina Asset Management LLC acquired a new position in SailPoint Technologies in the 4th quarter valued at $20,497,000. Finally, Thrivent Financial For Lutherans acquired a new position in SailPoint Technologies in the 4th quarter valued at $20,272,000. Institutional investors own 24.75% of the company’s stock.

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.

Analyst Recommendations for SailPoint Technologies (NYSE:SAIL)

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