Ping Identity (NYSE:PING) had its price objective hoisted by stock analysts at Oppenheimer from $26.00 to $35.00 in a research note issued to investors on Tuesday, The Fly reports. Oppenheimer’s target price would suggest a potential upside of 10.97% from the stock’s previous close.
Several other equities research analysts have also recently commented on PING. BTIG Research started coverage on Ping Identity in a report on Friday, March 27th. They issued a “buy” rating and a $25.00 price target on the stock. Piper Sandler started coverage on shares of Ping Identity in a report on Wednesday, May 27th. They set an “overweight” rating and a $32.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Ping Identity from $27.00 to $32.00 and gave the stock an “outperform” rating in a report on Monday, June 1st. Barclays upped their price target on shares of Ping Identity from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, May 7th. Finally, Dougherty & Co initiated coverage on shares of Ping Identity in a report on Thursday, April 16th. They set a “neutral” rating for the company. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $28.06.
NYSE PING traded down $1.30 during mid-day trading on Tuesday, hitting $31.54. The stock had a trading volume of 35,906 shares, compared to its average volume of 1,040,580. The company has a 50 day simple moving average of $29.77 and a 200 day simple moving average of $25.04. The company has a market cap of $2.58 billion and a price-to-earnings ratio of 85.24. The company has a quick ratio of 4.86, a current ratio of 4.86 and a debt-to-equity ratio of 0.21. Ping Identity has a 52-week low of $12.02 and a 52-week high of $35.35.
Ping Identity (NYSE:PING) last posted its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $61.40 million for the quarter, compared to analyst estimates of $60.32 million. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts anticipate that Ping Identity will post 0.06 earnings per share for the current fiscal year.
In other news, CAO Adriana Zenia Carpenter sold 11,667 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $27.50, for a total transaction of $320,842.50. Following the sale, the chief accounting officer now owns 50,375 shares in the company, valued at approximately $1,385,312.50. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Vep Group, Llc sold 1,275,000 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $24.00, for a total transaction of $30,600,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,529,337 shares of company stock worth $38,239,983. 2.50% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Ping Identity by 44.4% in the first quarter. State Street Corp now owns 228,498 shares of the company’s stock valued at $4,575,000 after buying an additional 70,256 shares in the last quarter. Telemus Capital LLC bought a new position in Ping Identity in the first quarter valued at approximately $354,000. Advisor Group Holdings Inc. bought a new position in Ping Identity in the first quarter valued at approximately $35,000. Morgan Stanley boosted its stake in Ping Identity by 32.8% in the first quarter. Morgan Stanley now owns 30,140 shares of the company’s stock valued at $603,000 after acquiring an additional 7,449 shares during the last quarter. Finally, ArrowMark Colorado Holdings LLC boosted its stake in Ping Identity by 7.4% in the first quarter. ArrowMark Colorado Holdings LLC now owns 468,201 shares of the company’s stock valued at $9,373,000 after acquiring an additional 32,110 shares during the last quarter. Institutional investors own 98.64% of the company’s stock.
Ping Identity Company Profile
Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions in the United States and internationally. It operates an Intelligent Identity platform, which offers secure access to any service, application, or application programming interface (API) to customers, employees, partners, and the Internet of Things.
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