According to Zacks, “Ping Identity Holding Corp. is a pioneering Intelligent Identity company. It provides flexible options to extend hybrid IT environments and accelerate digital business initiatives with multi-factor authentication, single sign-on, access management, intelligent API security, directory and data governance capabilities. Ping Intelligent Identity(TM) platform provides customers, employees, partners and increasingly, IoT, with access to cloud, mobile, SaaS and on-premises applications and APIs, while also managing identity and profile data at scale. Ping Identity Holding Corp. is based in Denver, Colorado. “
A number of other research analysts have also recently commented on the company. Dougherty & Co began coverage on Ping Identity in a research note on Thursday, April 16th. They set a neutral rating on the stock. Wells Fargo & Co upped their target price on Ping Identity from $30.00 to $35.00 and gave the company an overweight rating in a research note on Tuesday, July 7th. Robert W. Baird initiated coverage on Ping Identity in a research note on Tuesday, June 23rd. They set a neutral rating and a $33.00 target price on the stock. Oppenheimer increased their price objective on Ping Identity from $26.00 to $35.00 in a research note on Tuesday, July 7th. Finally, Raymond James dropped their price objective on Ping Identity from $28.00 to $21.00 and set an outperform rating on the stock in a research note on Friday, April 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $28.82.
Shares of PING stock opened at $34.36 on Wednesday. Ping Identity has a 1 year low of $12.02 and a 1 year high of $35.79. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.86 and a quick ratio of 4.86. The stock’s 50 day simple moving average is $32.29 and its two-hundred day simple moving average is $26.10. The company has a market cap of $2.76 billion and a PE ratio of 92.86.
Ping Identity (NYSE:PING) last released its earnings results on Wednesday, May 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $60.32 million. The firm’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts expect that Ping Identity will post 0.06 EPS for the current year.
In other Ping Identity news, major shareholder Vep Group, Llc sold 10,222,765 shares of the company’s stock in a transaction on Monday, July 13th. The stock was sold at an average price of $32.00, for a total transaction of $327,128,480.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Lauren Adrienne Romer sold 4,074 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $30.00, for a total value of $122,220.00. Following the sale, the insider now owns 98,604 shares of the company’s stock, valued at approximately $2,958,120. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,752,102 shares of company stock valued at $365,368,463. 2.50% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Ladenburg Thalmann Financial Services Inc. purchased a new stake in shares of Ping Identity during the 4th quarter valued at $33,000. Advisor Group Holdings Inc. purchased a new stake in shares of Ping Identity during the 1st quarter valued at $35,000. Citigroup Inc. purchased a new stake in shares of Ping Identity during the 4th quarter valued at $68,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Ping Identity during the 2nd quarter valued at $202,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Ping Identity during the 2nd quarter valued at $211,000. Hedge funds and other institutional investors own 98.64% of the company’s stock.
About Ping Identity
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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