Sailpoint Technologies (NYSE:SAIL) Receives New Coverage from Analysts at Loop Capital

Loop Capital started coverage on shares of Sailpoint Technologies (NYSE:SAIL) in a research note issued to investors on Tuesday morning, Benzinga reports. The brokerage issued a hold rating and a $40.00 price objective on the stock.

SAIL has been the subject of a number of other reports. Needham & Company LLC reiterated a hold rating on shares of Sailpoint Technologies in a research note on Monday, August 10th. Piper Sandler lifted their price objective on shares of Sailpoint Technologies from $24.00 to $40.00 in a research note on Friday, August 7th. Canaccord Genuity lifted their price objective on shares of Sailpoint Technologies from $39.00 to $47.00 and gave the company a buy rating in a research note on Friday, August 28th. ValuEngine cut shares of Sailpoint Technologies from a buy rating to a hold rating in a research note on Monday, May 11th. Finally, Goldman Sachs Group upgraded shares of Sailpoint Technologies from a sell rating to a buy rating and lifted their price objective for the company from $17.00 to $31.00 in a research note on Wednesday, July 1st. Five analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $34.57.

NYSE SAIL opened at $36.91 on Tuesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 3.59 and a current ratio of 3.59. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 922.98 and a beta of 2.20. The company’s 50-day simple moving average is $35.84 and its two-hundred day simple moving average is $25.15. Sailpoint Technologies has a one year low of $11.61 and a one year high of $41.29.

Sailpoint Technologies (NYSE:SAIL) last released its earnings results on Thursday, August 6th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.19. The company had revenue of $92.46 million during the quarter, compared to analysts’ expectations of $69.02 million. Sailpoint Technologies had a net margin of 1.12% and a return on equity of 5.02%. Sailpoint Technologies’s revenue for the quarter was up 46.6% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. Equities analysts expect that Sailpoint Technologies will post -0.1 earnings per share for the current fiscal year.

In related news, Director William G. Bock sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $36.25, for a total transaction of $145,000.00. Following the sale, the director now directly owns 92,295 shares in the company, valued at $3,345,693.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director James Cameron Mcmartin sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 8th. The stock was sold at an average price of $37.65, for a total transaction of $564,750.00. Following the sale, the director now owns 67,732 shares in the company, valued at $2,550,109.80. The disclosure for this sale can be found here. Insiders sold 120,773 shares of company stock worth $3,752,165 in the last ninety days. 3.40% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Neuberger Berman Group LLC increased its stake in shares of Sailpoint Technologies by 1.2% during the second quarter. Neuberger Berman Group LLC now owns 1,162,897 shares of the company’s stock worth $30,782,000 after buying an additional 13,349 shares during the period. Quadrature Capital Ltd purchased a new position in Sailpoint Technologies in the second quarter valued at approximately $545,000. Handelsbanken Fonder AB purchased a new position in Sailpoint Technologies in the second quarter valued at approximately $421,000. Nuveen Asset Management LLC increased its stake in Sailpoint Technologies by 21.0% in the second quarter. Nuveen Asset Management LLC now owns 658,476 shares of the company’s stock valued at $17,429,000 after purchasing an additional 114,329 shares during the last quarter. Finally, Diker Management LLC purchased a new position in Sailpoint Technologies in the second quarter valued at approximately $2,647,000.

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.

See Also: What are Institutional Investors?

Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit