BTIG Research Initiates Coverage on Sailpoint Technologies (SAIL)
Equities research analysts at BTIG Research assumed coverage on shares of Sailpoint Technologies (NYSE:SAIL) in a research note issued to investors on Wednesday. The brokerage set a “buy” rating and a $30.00 price target on the stock. BTIG Research’s price objective points to a potential upside of 14.99% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on SAIL. Zacks Investment Research upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Saturday, May 12th. Canaccord Genuity reiterated a “hold” rating and issued a $24.00 price objective on shares of Sailpoint Technologies in a report on Wednesday, May 16th. Piper Jaffray Companies initiated coverage on Sailpoint Technologies in a report on Wednesday. They issued an “overweight” rating and a $28.00 price objective on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $25.00 price objective (up previously from $23.50) on shares of Sailpoint Technologies in a report on Monday, March 26th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $21.00 price objective on shares of Sailpoint Technologies in a report on Friday, February 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $24.36.
Sailpoint Technologies opened at $26.09 on Wednesday, according to Marketbeat. Sailpoint Technologies has a twelve month low of $12.82 and a twelve month high of $26.92. The company has a current ratio of 2.14, a quick ratio of 2.14 and a debt-to-equity ratio of 0.21. The stock has a market cap of $2.19 billion and a price-to-earnings ratio of 652.25.
In related news, major shareholder Thoma Bravo, Llc sold 20,479,200 shares of the firm’s stock in a transaction dated Tuesday, May 29th. The stock was sold at an average price of $21.66, for a total value of $443,579,472.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Arthur Beck sold 5,000 shares of the firm’s stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $22.42, for a total value of $112,100.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,590,405 shares of company stock worth $446,030,624.
Several hedge funds and other institutional investors have recently bought and sold shares of SAIL. Gilder Gagnon Howe & Co. LLC bought a new stake in shares of Sailpoint Technologies in the fourth quarter worth about $22,033,000. Picton Mahoney Asset Management bought a new stake in Sailpoint Technologies during the 4th quarter valued at approximately $2,761,000. Thompson Davis & CO. Inc. bought a new stake in Sailpoint Technologies during the 4th quarter valued at approximately $156,000. Pentwater Capital Management LP bought a new stake in Sailpoint Technologies during the 4th quarter valued at approximately $290,000. Finally, Wells Fargo & Company MN bought a new stake in Sailpoint Technologies during the 4th quarter valued at approximately $8,294,000. 25.00% of the stock is currently owned by institutional investors.
Sailpoint Technologies Company Profile
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.
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