SailPoint Technologies (NYSE: SAIL – Get a Review) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released Tuesday, Zacks.com reports.
According to Zacks, “SailPoint Technologies Holdings, Inc. is a provider of enterprise identity governance solutions. The Company’s products and services include open identity platform, cloud-based identity governance, on-premises identity governance, data access governance, identity analytics, identity for healthcare and federal identity solutions. SailPoint Technologies Holdings, Inc. is based in Austin, USA. “
Several other brokerages have also recently weighed in on SAIL. Canaccord Genuity Group downgraded SailPoint Technologies from a “buy” rating to a “hold” rating in a report released Monday, April 11. Canaccord Genuity Group reaffirmed a “hold” rating and set a price target of $65.25 on shares of SailPoint Technologies in a report released Tuesday, April 12. KeyCorp began covering SailPoint Technologies in a report on Monday, April 4. They set an “overweight” rating and a price target of $63.00 for the company. Royal Bank of Canada downgraded SailPoint Technologies from an “outperform” rating to an “industry performer” rating and set a price target of $65.25 for the company. in a report on Tuesday, April 12. Finally, Wells Fargo & Company downgraded SailPoint Technologies from an “overweight” rating to an “equal weight” rating in a Tuesday, April 12 report. One financial analyst has assigned the stock a sell rating, twelve have issued a hold rating and five have assigned the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.83.
SAIL shares opened at $63.99 on Tuesday. The company has a market capitalization of $6.03 billion, a PE ratio of -96.95 and a beta of 1.54. The company’s 50-day simple moving average is $52.18 and its 200-day simple moving average is $48.31. SailPoint Technologies has a 12-month low of $34.98 and a 12-month high of $64.43.
SailPoint Technologies (NYSE:SAIL – Get Rating) last announced its results on Monday, February 28. The company reported earnings per share (EPS) of $0.09 for the quarter, beating analyst consensus estimates of ($0.07) by $0.16. The company posted revenue of $135.60 million for the quarter, versus analyst estimates of $113.72 million. SailPoint Technologies recorded a negative net margin of 14.04% and a negative return on equity of 9.86%. The company’s revenue for the quarter increased by 31.2% compared to the same quarter last year. During the same period last year, the company posted earnings per share of $0.05. As a group, analysts expect SailPoint Technologies to post -0.77 earnings per share for the current fiscal year.
In a similar vein, Executive Vice President Grady Summers sold 9,000 shares of SailPoint Technologies in a trade dated Friday, February 18. The stock was sold at an average price of $39.27, for a total transaction of $353,430.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Additionally, General Counsel Christopher Schmitt sold 3,765 shares of SailPoint Technologies in a trade dated Tuesday, March 15. The stock was sold at an average price of $41.40, for a total value of $155,871.00. The disclosure of this sale can be found here. Insiders sold a total of 74,409 shares of the company valued at $3,031,585 in the past ninety days. Company insiders hold 2.00% of the company’s shares.
A number of institutional investors have recently bought and sold shares of SAIL. Morgan Stanley increased its position in SailPoint Technologies by 3.9% during the second quarter. Morgan Stanley now owns 604,006 shares of the company worth $30,846,000 after buying an additional 22,520 shares last quarter. PNC Financial Services Group Inc. increased its stake in SailPoint Technologies by 18.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,086 shares of the company valued at $132,000 after purchasing an additional 490 shares during the period. Duality Advisers LP purchased a new stake in SailPoint Technologies in Q3, valued at approximately $509,000. The Swiss National Bank increased its stake in SailPoint Technologies by 1.2% in the third quarter. The Swiss National Bank now owns 204,000 shares of the company valued at $8,748,000 after purchasing an additional 2,500 shares during the period. Finally, TimesSquare Capital Management LLC increased its stake in SailPoint Technologies by 2.8% in the third quarter. TimesSquare Capital Management LLC now owns 2,174,800 shares of the company valued at $93,255,000 after purchasing an additional 58,590 shares during the period.
About SailPoint Technologies (Get an evaluation)
SailPoint Technologies Holdings, Inc provides enterprise identity security solutions in the United States, Europe, the Middle East, Africa and internationally. The Company offers Software as a Service (SaaS) and Software Platforms, which provide organizations with the visibility and intelligence needed to empower users and manage their access to systems, applications and data in IT environments. hybrid information spanning on-premises, cloud and mobile. file storage applications and platforms.
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