Analysts predict that Sailpoint Technologies Holdings Inc (NYSE:SAIL) will announce sales of $60.26 million for the current quarter, according to Zacks. Five analysts have made estimates for Sailpoint Technologies’ earnings, with the highest sales estimate coming in at $61.00 million and the lowest estimate coming in at $59.30 million. Sailpoint Technologies reported sales of $49.71 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 21.2%. The firm is scheduled to report its next quarterly earnings report on Wednesday, May 8th.
According to Zacks, analysts expect that Sailpoint Technologies will report full year sales of $295.99 million for the current year, with estimates ranging from $295.74 million to $296.20 million. For the next year, analysts forecast that the business will report sales of $351.07 million, with estimates ranging from $344.30 million to $361.43 million. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Sailpoint Technologies.
Several research firms have recently commented on SAIL. Zacks Investment Research upgraded shares of Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a research note on Friday, November 16th. Monness Crespi & Hardt began coverage on shares of Sailpoint Technologies in a research note on Wednesday, January 2nd. They set a “buy” rating and a $30.00 price objective for the company. Piper Jaffray Companies reiterated an “overweight” rating and set a $35.00 price objective on shares of Sailpoint Technologies in a research note on Wednesday, March 6th. Finally, Northland Securities reiterated a “hold” rating and set a $30.00 price objective on shares of Sailpoint Technologies in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $32.14.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in Sailpoint Technologies by 15.5% during the third quarter. JPMorgan Chase & Co. now owns 6,960,015 shares of the company’s stock valued at $236,780,000 after purchasing an additional 935,714 shares during the period. Alliancebernstein L.P. increased its holdings in Sailpoint Technologies by 41.9% in the third quarter. Alliancebernstein L.P. now owns 5,978,211 shares of the company’s stock valued at $203,379,000 after buying an additional 1,766,639 shares in the last quarter. Vanguard Group Inc. increased its holdings in Sailpoint Technologies by 42.6% in the third quarter. Vanguard Group Inc. now owns 5,953,503 shares of the company’s stock valued at $202,538,000 after buying an additional 1,778,907 shares in the last quarter. Vanguard Group Inc increased its holdings in Sailpoint Technologies by 42.6% in the third quarter. Vanguard Group Inc now owns 5,953,503 shares of the company’s stock valued at $202,538,000 after buying an additional 1,778,907 shares in the last quarter. Finally, BlackRock Inc. increased its holdings in Sailpoint Technologies by 14.2% in the fourth quarter. BlackRock Inc. now owns 5,674,590 shares of the company’s stock valued at $133,296,000 after buying an additional 705,830 shares in the last quarter. Institutional investors own 80.34% of the company’s stock.
SAIL traded up $0.44 during trading on Thursday, hitting $28.99. The stock had a trading volume of 822,025 shares, compared to its average volume of 1,031,723. The company has a market cap of $2.52 billion, a price-to-earnings ratio of 181.19 and a beta of 1.75. Sailpoint Technologies has a twelve month low of $19.50 and a twelve month high of $34.60.
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.
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