SailPoint (NASDAQ:SAIL) Coverage Initiated at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald initiated coverage on shares of SailPoint (NASDAQ:SAIL) in a note issued to investors on Monday, MarketBeat Ratings reports. The firm set an “overweight” rating and a $29.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 33.58% from the company’s previous close.

A number of other research firms have also recently issued reports on SAIL. Wells Fargo & Company lifted their price target on SailPoint from $16.00 to $20.00 and gave the company an “equal weight” rating in a report on Thursday, June 12th. JPMorgan Chase & Co. boosted their target price on shares of SailPoint from $25.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, June 12th. The Goldman Sachs Group reiterated a “neutral” rating on shares of SailPoint in a research report on Wednesday, June 11th. Evercore ISI started coverage on shares of SailPoint in a research note on Monday, March 10th. They set an “outperform” rating and a $29.00 price target on the stock. Finally, Truist Financial started coverage on shares of SailPoint in a research report on Monday, March 10th. They issued a “buy” rating and a $29.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $26.66.

SailPoint Price Performance

NASDAQ:SAIL opened at $21.71 on Monday. SailPoint has a 1 year low of $15.05 and a 1 year high of $26.35. The firm has a 50 day moving average price of $19.51.

SailPoint (NASDAQ:SAIL) last released its quarterly earnings results on Wednesday, June 11th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.02. The business had revenue of $230.47 million for the quarter, compared to analyst estimates of $225.18 million. The firm’s revenue for the quarter was up 22.8% on a year-over-year basis.

Hedge Funds Weigh In On SailPoint

A number of hedge funds and other institutional investors have recently bought and sold shares of SAIL. Assetmark Inc. bought a new stake in shares of SailPoint during the 1st quarter valued at $32,000. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in shares of SailPoint during the first quarter worth $49,000. Quarry LP bought a new stake in SailPoint in the first quarter valued at about $70,000. Picton Mahoney Asset Management bought a new stake in SailPoint in the first quarter valued at about $87,000. Finally, PNC Financial Services Group Inc. acquired a new position in SailPoint in the first quarter valued at about $150,000.

About SailPoint

SailPoint, Inc delivers solutions to enable comprehensive identity security for the enterprise. Its solutions enable organizations to establish, control, and automate policies that help them define and maintain a robust security posture and achieve regulatory compliance. The company was founded by Mark David McClain in 2005 and is headquartered in Austin, TX.