Zacks: Brokerages Expect Sailpoint Technologies Holdings Inc (SAIL) Will Post Earnings of -$0.05 Per Share

Analysts expect Sailpoint Technologies Holdings Inc (NYSE:SAIL) to post earnings of ($0.05) per share for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Sailpoint Technologies’ earnings, with the lowest EPS estimate coming in at ($0.06) and the highest estimate coming in at ($0.04). Sailpoint Technologies reported earnings of $0.03 per share during the same quarter last year, which indicates a negative year over year growth rate of 266.7%. The firm is expected to issue its next quarterly earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Sailpoint Technologies will report full year earnings of $0.15 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.16. For the next fiscal year, analysts anticipate that the company will report earnings of $0.27 per share, with EPS estimates ranging from $0.19 to $0.41. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that cover Sailpoint Technologies.

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

SAIL has been the topic of several recent analyst reports. Zacks Investment Research upgraded Sailpoint Technologies from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Thursday, March 7th. Monness Crespi & Hardt restated a “buy” rating and set a $37.00 price objective (up previously from $30.00) on shares of Sailpoint Technologies in a report on Wednesday, February 20th. BTIG Research cut their price objective on Sailpoint Technologies from $27.00 to $20.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Northland Securities restated a “hold” rating and set a $30.00 price objective on shares of Sailpoint Technologies in a report on Wednesday, March 6th. Finally, ValuEngine downgraded Sailpoint Technologies from a “buy” rating to a “hold” rating in a report on Friday, May 10th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $29.67.

NYSE SAIL traded down $0.30 on Monday, hitting $19.18. 1,361,633 shares of the company were exchanged, compared to its average volume of 1,464,746. The company has a market cap of $1.73 billion, a PE ratio of 119.88 and a beta of 1.56. Sailpoint Technologies has a twelve month low of $18.00 and a twelve month high of $34.60.

In other Sailpoint Technologies news, CAO Thomas Arthur Beck sold 5,200 shares of Sailpoint Technologies stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $31.76, for a total transaction of $165,152.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO James Cameron Mcmartin sold 14,000 shares of Sailpoint Technologies stock in a transaction dated Tuesday, February 19th. The shares were sold at an average price of $31.76, for a total value of $444,640.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 128,400 shares of company stock worth $3,712,230. Company insiders own 4.10% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in SAIL. JPMorgan Chase & Co. grew its stake in shares of Sailpoint Technologies by 15.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,960,015 shares of the company’s stock valued at $236,780,000 after buying an additional 935,714 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Sailpoint Technologies by 35.9% in the 3rd quarter. Bank of New York Mellon Corp now owns 292,619 shares of the company’s stock valued at $9,955,000 after buying an additional 77,246 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Sailpoint Technologies by 27.1% in the 3rd quarter. Teachers Advisors LLC now owns 102,996 shares of the company’s stock valued at $3,504,000 after buying an additional 21,971 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Sailpoint Technologies by 49.5% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 105,930 shares of the company’s stock valued at $3,604,000 after buying an additional 35,090 shares in the last quarter. Finally, Legal & General Group Plc grew its stake in shares of Sailpoint Technologies by 67.3% in the 3rd quarter. Legal & General Group Plc now owns 19,754 shares of the company’s stock valued at $672,000 after buying an additional 7,944 shares in the last quarter. 81.00% of the stock is owned by institutional investors and hedge funds.

Sailpoint Technologies Company Profile

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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