Sailpoint Technologies (SAIL) Upgraded at Zacks Investment Research

Zacks Investment Research upgraded shares of Sailpoint Technologies (NYSE:SAIL) from a hold rating to a buy rating in a report published on Saturday. The firm currently has $25.00 target price on the stock.

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, Healthcare Identity Solutions and Federal Identity Solutions. SailPoint Technologies Holdings, Inc. is based in Austin, United States. “

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Several other brokerages have also recently issued reports on SAIL. KeyCorp reissued an overweight rating and issued a $22.00 price objective (up from $19.00) on shares of Sailpoint Technologies in a research note on Thursday, February 22nd. Jefferies Group reissued a buy rating and issued a $23.00 price objective on shares of Sailpoint Technologies in a research note on Thursday, February 22nd. Needham & Company LLC boosted their price objective on shares of Sailpoint Technologies from $21.00 to $23.50 and gave the company a buy rating in a research note on Thursday, February 22nd. Canaccord Genuity boosted their price objective on shares of Sailpoint Technologies from $15.00 to $17.00 and gave the company a buy rating in a research note on Friday, February 23rd. Finally, Royal Bank of Canada reissued a buy rating and issued a $21.00 price objective on shares of Sailpoint Technologies in a research note on Friday, February 23rd. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $21.44.

SAIL stock opened at $22.32 on Friday. Sailpoint Technologies has a 12 month low of $12.82 and a 12 month high of $23.93. The firm has a market capitalization of $1,927.54 and a P/E ratio of 558.00. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.21.

Sailpoint Technologies (NYSE:SAIL) last released its quarterly earnings results on Wednesday, February 21st. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The business had revenue of $67.77 million during the quarter, compared to analysts’ expectations of $55.75 million. equities research analysts forecast that Sailpoint Technologies will post 0.05 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sterling Capital Management LLC acquired a new position in Sailpoint Technologies in the 4th quarter valued at $1,754,000. Zimmer Partners LP acquired a new position in shares of Sailpoint Technologies during the 4th quarter worth $2,465,000. HBK Investments L P acquired a new position in shares of Sailpoint Technologies during the 4th quarter worth $2,248,000. Two Sigma Investments LP acquired a new position in shares of Sailpoint Technologies during the 4th quarter worth $1,300,000. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Sailpoint Technologies during the 4th quarter worth $1,405,000. 25.03% of the stock is currently owned by institutional investors.

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About Sailpoint Technologies

SailPoint Technologies Holdings, Inc is a provider of enterprise identity governance solutions. The Company is focused on providing SailPoint that empowers customers to efficiently and securely govern the digital identities of employees, contractors, business partners and other users, and manage their constantly changing access rights to enterprise applications and data.

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