Momentum Stock Watch: Sailpoint Technologies Holdings Inc (SAIL)

Company Profile:

SailPoint Technologies Holdings, Inc. designs, develops, and markets identity governance software solutions in the United States, Europe, the Middle East, Africa, and internationally. The company offers software and software as a service solutions, which help organizations to govern the digital identities of employees, contractors, business partners, software bots, and other human and non-human users, as well as manage their constantly changing access rights to enterprise applications and data across hybrid IT environments, spanning on-premises, cloud and mobile applications, and file storage platforms. Its solutions include IdentityIQ, an on-premises identity governance solution; IdentityNow, a cloud-based multi-tenant governance platform; and IdentityAI, a multi-tenant AI and ML SaaS subscription offering that helps organizations detect potential threats before they turn into security breaches. The company sells its products and solutions to commercial enterprises, financial institutions, and governments directly, as well as through system integrators, technology partners, and value-added resellers. SailPoint Technologies Holdings, Inc. was founded in 2004 and is headquartered in Austin, Texas.

Recent News:

For the third quarter ended September 30, 2020, the company reported total revenue of $94.0 million, a 24% increase over the third quarter of 2019. Income from operations was $1.0 million compared to $1.3 million in Q3 2019. Non-GAAP income from operations was $12.0 million compared to $9.0 million in Q3 2019.

On Sept. 30, 2020, the company replaced Sally Beauty Holdings Inc. (NYSE:SBH) in the S&P MidCap 400 effective prior to the opening of trading on Monday, October 5.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

SAIL’s strengths can be seen in its better growth, strong profitability and better efficiency compared with its peers. Its revenue has increased over recent years. Technical indicators signal the bullish signs, as there is a bullish crossover in MACD and Stochastic oscillator. The RSI stands at 55.58 with positive bias. We rate Sailpoint Technologies Holdings Inc (SAIL) a STRONG BUY.