Sailpoint Technologies (NYSE:SAIL) had its target price raised by Needham & Company LLC from $29.00 to $30.00 in a research report report published on Thursday morning, MarketBeat.com reports. Needham & Company LLC currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on the stock. Jefferies Financial Group restated a buy rating and set a $28.00 target price on shares of Sailpoint Technologies in a report on Thursday, April 19th. Zacks Investment Research raised shares of Sailpoint Technologies from a hold rating to a buy rating and set a $25.00 price objective for the company in a research report on Saturday, April 14th. Piper Jaffray Companies started coverage on shares of Sailpoint Technologies in a research report on Wednesday, May 30th. They set an overweight rating and a $28.00 price objective for the company. BTIG Research started coverage on shares of Sailpoint Technologies in a research report on Wednesday, May 30th. They set a buy rating and a $30.00 price objective for the company. Finally, Canaccord Genuity reaffirmed a hold rating and set a $24.00 price objective on shares of Sailpoint Technologies in a research report on Wednesday, May 16th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $29.45.

SAIL stock traded down $0.37 during mid-day trading on Thursday, hitting $28.83. 731,246 shares of the company were exchanged, compared to its average volume of 785,374. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.14 and a current ratio of 1.47. The company has a market capitalization of $2.56 billion and a P/E ratio of 720.75. Sailpoint Technologies has a 1-year low of $12.82 and a 1-year high of $30.39.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings data on Wednesday, August 8th. The company reported $0.03 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.05. The business had revenue of $54.60 million during the quarter, compared to analyst estimates of $50.02 million. The company’s revenue was up 38.9% compared to the same quarter last year. analysts forecast that Sailpoint Technologies will post -0.15 earnings per share for the current year.

In related news, CAO Thomas Arthur Beck sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 17th. The stock was sold at an average price of $22.42, for a total value of $112,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO James Cameron Mcmartin sold 23,205 shares of the company’s stock in a transaction that occurred on Tuesday, May 22nd. The shares were sold at an average price of $21.62, for a total value of $501,692.10. The disclosure for this sale can be found here. Insiders sold 20,969,816 shares of company stock worth $456,423,773 over the last quarter.

Several institutional investors have recently bought and sold shares of SAIL. BlackRock Inc. bought a new position in shares of Sailpoint Technologies in the 4th quarter worth $8,664,000. Northern Trust Corp purchased a new stake in Sailpoint Technologies in the 1st quarter valued at $4,444,000. Sheets Smith Wealth Management purchased a new stake in Sailpoint Technologies in the 2nd quarter valued at $237,000. Millennium Management LLC purchased a new stake in Sailpoint Technologies in the 1st quarter valued at $3,572,000. Finally, Lisanti Capital Growth LLC purchased a new stake in Sailpoint Technologies in the 1st quarter valued at $761,000. Hedge funds and other institutional investors own 25.44% of the company’s stock.

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.

See Also: How to Invest in Growth Stocks

Analyst Recommendations for Sailpoint Technologies (NYSE:SAIL)

Receive News & Ratings for Sailpoint Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sailpoint Technologies and related companies with MarketBeat.com's FREE daily email newsletter.