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Here's Why Shares of SailPoint Technologies Are Rising Today

TheMotleyFool

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Here's Why Shares of SailPoint Technologies Are Rising Today

Shares of SailPoint Technologies Holdings (NYSE: SAIL) skyrocketed today after the company reported better-than-expected second-quarter results on Thursday. The company's stock jumped by as much as 23% in trading today, before settling slightly lower. As of 12:58 p.m. EDT on Friday, SailPoint's shares were up 17.1%.

SailPoint Technologies completely obliterated Wall Street's estimates in the second quarter. The company reported adjusted earnings of $0.15 per share, far higher than analysts' consensus estimate for a loss of $0.04 per share. The earnings were also a big change from the company's loss of $0.01 per share in the year-ago quarter.

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Source Fool.com

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