In a report released yesterday, Michael Walkley from Canaccord Genuity upgraded SailPoint Technologies Holdings (SAIL) to Buy, with a price target of $39.00. The company’s shares closed last Thursday at $31.50, close to its 52-week high of $32.39.
According to TipRanks.com, Walkley is a top 100 analyst with an average return of 22.1% and a 68.5% success rate. Walkley covers the Technology sector, focusing on stocks such as Sequans Communications S A, Synchronoss Technologies, and Sierra Wireless.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for SailPoint Technologies Holdings with a $29.40 average price target, which is a -7.2% downside from current levels. In a report issued on July 27, RBC Capital also maintained a Buy rating on the stock with a $35.00 price target.
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Based on SailPoint Technologies Holdings’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $75.44 million and GAAP net loss of $8.42 million. In comparison, last year the company earned revenue of $60.58 million and had a GAAP net loss of $8.39 million.
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SailPoint Technologies Holdings, Inc. engages in the provision of enterprise identity governance solutions. It operates through the following geographical segments: United States; EMAE or Europe, the Middle East, and Africa; and Rest of the World. It also offers licensing of software, sale of professional services, maintenance, and technical support. The company was founded on August 8, 2014 and is headquartered in Austin, TX.
