Strength Seen in SailPoint, Inc. (SAIL): Can Its 7.5% Jump Turn into More Strength?

SailPoint, Inc. SAIL shares ended the last trading session 7.5% higher at $14.37. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 22.7% loss over the past four weeks.

SailPoint, Inc. benefits from the integration with Amazon Web Services through the new extended plan in AWS Security Hub. The integration will enable customers to simplify procurement and centrally manage identity security and governance through a single-vendor experience with one contract, one bill, consolidated support and flexible pricing through AWS.

This company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +101.9%. Revenues are expected to be $292.53 million, up 21.8% from the year-ago quarter.

Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.

For SailPoint, Inc. , the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on SAIL going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

SailPoint, Inc. belongs to the Zacks Internet - Software industry. Another stock from the same industry, Exodus Movement, Inc. EXOD, closed the last trading session 1.7% lower at $10.45. Over the past month, EXOD has returned -25.8%.

Exodus Movement, Inc.'s consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.01. Compared to the company's year-ago EPS, this represents a change of -101%. Exodus Movement, Inc. currently boasts a Zacks Rank of #3 (Hold).

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This article originally published on Zacks Investment Research (zacks.com).

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