Sailpoint Technologies (NYSE:SAIL) announced its quarterly earnings results on Wednesday. The company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.11, Briefing.com reports. The business had revenue of $75.88 million for the quarter, compared to the consensus estimate of $70.50 million. Sailpoint Technologies had a negative net margin of 3.39% and a positive return on equity of 1.99%. Sailpoint Technologies’s revenue for the quarter was up 15.4% on a year-over-year basis. During the same period last year, the company posted $0.12 EPS. Sailpoint Technologies updated its Q4 guidance to $0.07-0.08 EPS.
NYSE SAIL traded up $1.85 during trading hours on Thursday, reaching $21.99. 4,191,953 shares of the company’s stock were exchanged, compared to its average volume of 1,286,588. The company’s 50-day moving average is $19.21 and its two-hundred day moving average is $20.76. Sailpoint Technologies has a one year low of $16.63 and a one year high of $32.25. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of 137.44 and a beta of 2.01.
SAIL has been the topic of a number of analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $26.00 price target on shares of Sailpoint Technologies in a research report on Thursday. Jefferies Financial Group increased their price target on shares of Sailpoint Technologies from $26.00 to $28.00 and gave the company an “in-line” rating in a research report on Thursday. SunTrust Banks initiated coverage on shares of Sailpoint Technologies in a research report on Wednesday, October 2nd. They issued a “buy” rating and a $25.00 price target on the stock. Canaccord Genuity cut their price target on shares of Sailpoint Technologies from $22.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, October 17th. Finally, Royal Bank of Canada reiterated a “buy” rating on shares of Sailpoint Technologies in a research report on Thursday, August 8th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $26.57.
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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