SailPoint gains after Q2 strength, upside full-year view

Aug. 07, 2020 8:33 AM ETSailPoint Technologies Holdings, Inc. (SAIL)By: Brandy Betz, SA News Editor3 Comments
  • SailPoint (NYSE:SAIL) shares are up 10.8% pre-market after a strong Q2 upside with 47% Y/Y revenue growth and a surprise profit with EPS of $0.15, which is $0.19 above consensus.
  • Subscription revenue grew 36% Y/Y to $45.9M, and License sales were up 80% to $34.9M.
  • For Q3, SAIL expects revenue of $82-84M (consensus: $79.3M) and a $0.05-0.06 loss per share (consensus: $0).
  • The full-year outlook has $341-345M in revenue (consensus: $316.5M) and $0.08-0.11 EPS (consensus: $0.05). SAIL had withdrawn the annual forecast in Q1.
  • Canaccord Genuity upgrades SAIL from Hold to Buy and raises the price target from $25 to $39, seeing the company as "uniquely positioned for success with innovative products, a strong executive team, and over $470M in cash."
  • Rosenblatt (Neutral) lifts its price target from $23 to $35, saying SAIL reported "one of the strongest upsides in our coverage universe this earnings season."
  • Earnings press release.
  • Previously: SailPoint Technologies EPS beats by $0.19, beats on revenue (Aug. 06 2020)

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