Zacks: Brokerages Anticipate Sailpoint Technologies Holdings Inc (NYSE:SAIL) Will Post Quarterly Sales of $60.39 Million

Wall Street brokerages predict that Sailpoint Technologies Holdings Inc (NYSE:SAIL) will post sales of $60.39 million for the current quarter, Zacks Investment Research reports. 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 $60.00 million. Sailpoint Technologies posted sales of $54.56 million during the same quarter last year, which would suggest a positive year over year growth rate of 10.7%. The business is scheduled to issue its next quarterly earnings results on Wednesday, August 14th.

On average, analysts expect that Sailpoint Technologies will report full year sales of $279.47 million for the current financial year, with estimates ranging from $277.94 million to $280.10 million. For the next fiscal year, analysts expect that the business will report sales of $321.35 million, with estimates ranging from $305.61 million to $330.50 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Sailpoint Technologies.

Sailpoint Technologies (NYSE:SAIL) last posted its quarterly earnings results on Wednesday, May 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Sailpoint Technologies had a positive return on equity of 3.26% and a negative net margin of 2.14%. The business had revenue of $60.58 million for the quarter, compared to analyst estimates of $60.26 million.

A number of brokerages have recently weighed in on SAIL. Monness Crespi & Hardt reiterated a “buy” rating and issued a $37.00 price objective (up from $30.00) on shares of Sailpoint Technologies in a research report on Wednesday, February 20th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $35.00 price objective on shares of Sailpoint Technologies in a research report on Wednesday, March 6th. Northland Securities reiterated a “hold” rating and issued a $30.00 price objective on shares of Sailpoint Technologies in a research report on Wednesday, March 6th. Zacks Investment Research lowered Sailpoint Technologies from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 8th. Finally, Summit Insights began coverage on Sailpoint Technologies in a research report on Wednesday, April 17th. They issued a “buy” rating and a $35.00 price objective on the stock. Seven equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.20.

SAIL traded up $0.42 on Friday, hitting $17.61. 978,225 shares of the company were exchanged, compared to its average volume of 1,156,510. Sailpoint Technologies has a 12 month low of $16.63 and a 12 month high of $34.60. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 110.06 and a beta of 2.18.

In other news, CFO James Cameron Mcmartin sold 14,000 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $28.89, for a total value of $404,460.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark D. Mcclain sold 33,000 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $28.08, for a total value of $926,640.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 123,200 shares of company stock valued at $3,367,598. 4.10% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System raised its stake in Sailpoint Technologies by 3.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 20,909 shares of the company’s stock valued at $601,000 after buying an additional 790 shares during the last quarter. Optimum Investment Advisors raised its stake in Sailpoint Technologies by 18.8% during the first quarter. Optimum Investment Advisors now owns 5,050 shares of the company’s stock valued at $145,000 after buying an additional 800 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in Sailpoint Technologies by 1.2% during the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 81,073 shares of the company’s stock valued at $1,904,000 after buying an additional 970 shares during the last quarter. Raymond James & Associates raised its stake in Sailpoint Technologies by 8.6% during the first quarter. Raymond James & Associates now owns 18,850 shares of the company’s stock valued at $541,000 after buying an additional 1,493 shares during the last quarter. Finally, Brinker Capital Inc. raised its stake in Sailpoint Technologies by 10.1% during the fourth quarter. Brinker Capital Inc. now owns 23,311 shares of the company’s stock valued at $548,000 after buying an additional 2,129 shares during the last quarter. Institutional investors own 85.99% 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.

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Earnings History and Estimates for Sailpoint Technologies (NYSE:SAIL)

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