Mizuho Forecasts Strong Price Appreciation for Sailpoint (NYSE:SAIL) Stock

Sailpoint (NYSE:SAIL) had its price objective upped by equities research analysts at Mizuho from $24.00 to $26.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective points to a potential upside of 11.59% from the company’s previous close.

SAIL has been the topic of several other research reports. JPMorgan Chase & Co. started coverage on shares of Sailpoint in a report on Monday, March 10th. They issued a “neutral” rating and a $25.00 price target on the stock. BTIG Research began coverage on Sailpoint in a report on Monday, March 10th. They set a “buy” rating and a $27.00 price objective for the company. Truist Financial initiated coverage on shares of Sailpoint in a research note on Monday, March 10th. They issued a “buy” rating and a $29.00 target price on the stock. Morgan Stanley cut their price target on shares of Sailpoint from $26.00 to $25.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Finally, Bank of America initiated coverage on shares of Sailpoint in a research report on Monday, March 10th. They set a “buy” rating and a $27.50 price objective on the stock. Five research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $26.50.

Sailpoint Price Performance

Shares of SAIL stock opened at $23.30 on Wednesday. Sailpoint has a one year low of $15.05 and a one year high of $26.35. The firm has a 50-day moving average price of $17.91.

Sailpoint (NYSE:SAIL) last posted its quarterly earnings results on Wednesday, March 26th. The company reported ($4.29) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($4.28). The company had revenue of $240.10 million for the quarter, compared to the consensus estimate of $229.69 million.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assetmark Inc. purchased a new stake in Sailpoint in the 1st quarter worth about $32,000. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Sailpoint during the first quarter valued at approximately $49,000. Quarry LP purchased a new stake in shares of Sailpoint in the first quarter worth approximately $70,000. Picton Mahoney Asset Management bought a new stake in shares of Sailpoint during the 1st quarter worth approximately $87,000. Finally, PNC Financial Services Group Inc. bought a new stake in shares of Sailpoint during the 1st quarter worth approximately $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.