Analysts predict that Sailpoint Technologies Holdings Inc (NYSE:SAIL) will report sales of $71.01 million for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for Sailpoint Technologies’ earnings, with the lowest sales estimate coming in at $70.50 million and the highest estimate coming in at $71.50 million. Sailpoint Technologies posted sales of $67.77 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.8%. The company is expected to issue its next quarterly earnings report on Wednesday, February 20th.
According to Zacks, analysts expect that Sailpoint Technologies will report full-year sales of $241.67 million for the current year, with estimates ranging from $241.20 million to $242.20 million. For the next financial year, analysts forecast that the company will report sales of $294.32 million, with estimates ranging from $285.00 million to $300.78 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Sailpoint Technologies.
Sailpoint Technologies (NYSE:SAIL) last released its quarterly earnings data on Wednesday, November 7th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.14. Sailpoint Technologies had a positive return on equity of 3.43% and a negative net margin of 2.59%. The firm had revenue of $66.42 million for the quarter, compared to the consensus estimate of $55.22 million. During the same quarter in the prior year, the company posted ($0.02) earnings per share. The firm’s revenue was up 52.5% on a year-over-year basis.
A number of equities analysts recently commented on the company. Northland Securities started coverage on Sailpoint Technologies in a report on Tuesday, September 11th. They issued a “market perform” rating and a $34.00 price objective on the stock. Zacks Investment Research upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Thursday, October 4th. Royal Bank of Canada reiterated a “buy” rating and set a $33.00 price target on shares of Sailpoint Technologies in a report on Friday, August 10th. Goldman Sachs Group started coverage on Sailpoint Technologies in a report on Tuesday, August 21st. They set a “neutral” rating and a $32.00 price target on the stock. Finally, Morgan Stanley set a $28.00 price target on Sailpoint Technologies and gave the company a “hold” rating in a report on Friday, October 19th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Sailpoint Technologies currently has a consensus rating of “Buy” and a consensus price target of $31.23.
NYSE:SAIL traded down $1.64 during mid-day trading on Wednesday, reaching $23.95. The stock had a trading volume of 823,753 shares, compared to its average volume of 848,192. Sailpoint Technologies has a fifty-two week low of $13.77 and a fifty-two week high of $34.60. The company has a market capitalization of $2.25 billion and a P/E ratio of 598.75.
In other news, CEO Mark D. Mcclain sold 93,000 shares of the stock in a transaction that occurred on Monday, September 17th. The stock was sold at an average price of $31.82, for a total value of $2,959,260.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William G. Bock sold 4,000 shares of the stock in a transaction that occurred on Thursday, November 15th. The shares were sold at an average price of $26.19, for a total value of $104,760.00. The disclosure for this sale can be found here. Insiders sold 287,981 shares of company stock valued at $8,539,526 over the last three months. 4.70% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its position in shares of Sailpoint Technologies by 15.5% in the third quarter. JPMorgan Chase & Co. now owns 6,960,015 shares of the company’s stock valued at $236,780,000 after acquiring an additional 935,714 shares during the period. Alliancebernstein L.P. lifted its position in Sailpoint Technologies by 41.9% in the third quarter. Alliancebernstein L.P. now owns 5,978,211 shares of the company’s stock worth $203,379,000 after purchasing an additional 1,766,639 shares during the period. Vanguard Group Inc. lifted its position in Sailpoint Technologies by 42.6% in the third quarter. Vanguard Group Inc. now owns 5,953,503 shares of the company’s stock worth $202,538,000 after purchasing an additional 1,778,907 shares during the period. BlackRock Inc. lifted its position in Sailpoint Technologies by 41.5% in the third quarter. BlackRock Inc. now owns 4,968,760 shares of the company’s stock worth $169,037,000 after purchasing an additional 1,457,473 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Sailpoint Technologies by 127.8% in the third quarter. Janus Henderson Group PLC now owns 2,424,898 shares of the company’s stock worth $82,495,000 after purchasing an additional 1,360,528 shares during the period. 73.15% of the stock is owned by institutional investors.
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: How analysts view the yield curve
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.