why SailPoint Technologies Holdings Inc. [SAIL] is a Good Choice for Investors After New Price Target of $65.60


SailPoint Technologies Holdings Inc. [NYSE: SAIL] gained 1.09% on the last trading session, reaching $64.15 price per share at the time. The company report on June 1, 2022 that SailPoint Announces HSR Clearance.

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SailPoint Technologies Holdings, Inc. (NYSE: SAIL) (“SailPoint”), the leader in enterprise identity security, today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (the “HSR Act”) with respect to SailPoint’s pending transaction with Thoma Bravo, L.P. (“Thoma Bravo”), a leading software investment firm. The expiration of the waiting period under the HSR Act satisfies one of the conditions to the closing of the transaction contemplated by the previously announced Agreement and Plan of Merger (the “Merger Agreement”), dated as of April 10, 2022.

The consummation of the transaction remains subject to other customary closing conditions set forth in the Merger Agreement, including approval by SailPoint stockholders and receipt of certain other regulatory approvals. The transaction is expected to close in the second half of 2022, as previously announced.

SailPoint Technologies Holdings Inc. represents 93.94 million in outstanding shares, while the company has a total market value of $6.07 billion with the latest information. SAIL stock price has been found in the range of $63.95 to $64.345.

If compared to the average trading volume of 4.34M shares, SAIL reached a trading volume of 3731151 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about SailPoint Technologies Holdings Inc. [SAIL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SAIL shares is $65.60 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SAIL stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wells Fargo have made an estimate for SailPoint Technologies Holdings Inc. shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 06, 2022. While these analysts kept the previous recommendation, KeyBanc Capital Markets raised their target price to Overweight. The new note on the price target was released on April 05, 2022, representing the official price target for SailPoint Technologies Holdings Inc. stock. Previously, the target price had yet another raise from $45 to $55, while Wells Fargo kept a Overweight rating on SAIL stock. On March 01, 2022, analysts decreased their price target for SAIL shares from 70 to 60.

The Average True Range (ATR) for SailPoint Technologies Holdings Inc. is set at 0.69, with the Price to Sales ratio for SAIL stock in the period of the last 12 months amounting to 13.08. The Price to Book ratio for the last quarter was 15.57, with the Price to Cash per share for the same quarter was set at 4.38.

Trading performance analysis for SAIL stock

SailPoint Technologies Holdings Inc. [SAIL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.02. With this latest performance, SAIL shares gained by 0.53% in over the last four-week period, additionally plugging by 29.96% over the last 6 months – not to mention a rise of 49.43% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SAIL stock in for the last two-week period is set at 66.08, with the RSI for the last a single of trading hit 68.57, and the three-weeks RSI is set at 65.96 for SailPoint Technologies Holdings Inc. [SAIL]. The present Moving Average for the last 50 days of trading for this stock 59.95, while it was recorded at 63.52 for the last single week of trading, and 49.31 for the last 200 days.

SailPoint Technologies Holdings Inc. [SAIL]: A deeper dive into fundamental analysis

SailPoint Technologies Holdings Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.90 and a Current Ratio set at 0.90.

SailPoint Technologies Holdings Inc. [SAIL]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SAIL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for SailPoint Technologies Holdings Inc. go to 15.00%.

An analysis of insider ownership at SailPoint Technologies Holdings Inc. [SAIL]

There are presently around $6,429 million, in the hands of institutional investors. The top three institutional holders of SAIL stocks are: BLACKROCK INC. with ownership of 11,434,436, which is approximately -2.254% of the company’s market cap and around 1.70% of the total institutional ownership; HMI CAPITAL MANAGEMENT, L.P., holding 9,157,172 shares of the stock with an approximate value of $581.11 million in SAIL stocks shares; and VANGUARD GROUP INC, currently with $575.62 million in SAIL stock with ownership of nearly -0.305% of the company’s market capitalization.

Positions in SailPoint Technologies Holdings Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 130 institutional holders increased their position in SailPoint Technologies Holdings Inc. [NYSE:SAIL] by around 10,468,504 shares. Additionally, 136 investors decreased positions by around 8,223,026 shares, while 41 investors held positions by with 82,617,562 shares. The mentioned changes placed institutional holdings at 101,309,092 shares, according to the latest SEC report filing. SAIL stock had 42 new institutional investments in for a total of 2,670,970 shares, while 32 institutional investors sold positions of 2,751,373 shares during the same period.