Wells Fargo & Company Forecasts Strong Price Appreciation for Sailpoint (NYSE:SAIL) Stock

Sailpoint (NYSE:SAIL) had its price objective lifted by Wells Fargo & Company from $16.00 to $20.00 in a research report sent to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Other equities analysts also recently issued reports about the company. Truist Financial assumed coverage on Sailpoint in a research report on Monday, March 10th. They set a “buy” rating and a $29.00 target price on the stock. Morgan Stanley decreased their price objective on Sailpoint from $26.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Evercore ISI started coverage on shares of Sailpoint in a report on Monday, March 10th. They issued an “outperform” rating and a $29.00 target price for the company. Barclays set a $23.00 price target on shares of Sailpoint and gave the stock an “overweight” rating in a research report on Tuesday, June 3rd. Finally, Jefferies Financial Group dropped their price target on shares of Sailpoint from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sailpoint currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Sailpoint Trading Up 3.4%

Shares of NYSE:SAIL opened at $23.30 on Thursday. The business has a 50 day simple moving average of $17.91. Sailpoint has a twelve month low of $15.05 and a twelve month high of $26.35.

Sailpoint (NYSE:SAIL) last announced its 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 business had revenue of $240.10 million for the quarter, compared to analyst estimates of $229.69 million.

Institutional Trading of Sailpoint

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new stake in Sailpoint in the 1st quarter valued at $94,194,000. Alliancebernstein L.P. purchased a new position in shares of Sailpoint during the first quarter valued at about $55,644,000. T. Rowe Price Investment Management Inc. bought a new position in Sailpoint during the first quarter valued at approximately $46,875,000. Ameriprise Financial Inc. bought a new position in Sailpoint during the first quarter valued at approximately $42,585,000. Finally, Stephens Investment Management Group LLC bought a new position in Sailpoint during the first quarter valued at approximately $23,213,000.

Sailpoint Company Profile

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.