RTTNews | Nov 10, 2021 10:34AM EST

10:33 Wednesday, November 10, 2021 (RTTNews.com) - SailPoint Technologies Holdings, Inc. (SAIL) shares are rising more than 25 percent after the company recorded a 17 percent increase in third-quarter revenue from the prior year, above analysts forecast. The fourth quarter and full-year revenue estimates also came in above Street range.

The quarterly revenues were $110.1 million, up from $94.01 million last year. Wall Street analysts were looking for $103.43 million.

Looking ahead the company expects fourth-quarter total revenue in a range of $112 million to $114.0 million. Analysts are expecting $114.28 million.

For the full year 2021, revenue projection is in a range of $415.5 to $417.5 million. Street expectation is revenue of $411.41 million.

Currently, shares are at $59.42, up 23.28 percent from the previous close of $48.20 on a volume of 2,581,601. For the 52-week period, the shares have traded in a range of $57.56 - $63.36 on average volume of 840,778.

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