Zacks: Brokerages Anticipate Ping Identity Holding Corp. (NYSE:PING) Will Announce Earnings of $0.02 Per Share

Analysts forecast that Ping Identity Holding Corp. (NYSE:PING) will report earnings per share (EPS) of $0.02 for the current quarter, Zacks reports. Five analysts have issued estimates for Ping Identity’s earnings, with estimates ranging from ($0.03) to $0.05. Ping Identity reported earnings per share of $0.09 in the same quarter last year, which would suggest a negative year-over-year growth rate of 77.8%. The company is scheduled to issue its next earnings results on Wednesday, February 23rd.

On average, analysts expect that Ping Identity will report full year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.16 to $0.28. For the next financial year, analysts forecast that the company will report earnings of $0.33 per share, with EPS estimates ranging from $0.26 to $0.41. Zacks’ EPS calculations are a mean average based on a survey of research firms that cover Ping Identity.

Ping Identity (NYSE:PING) last issued its quarterly earnings data on Wednesday, November 3rd. The company reported $0.07 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.16. Ping Identity had a negative return on equity of 1.67% and a negative net margin of 14.54%. During the same quarter in the previous year, the firm earned $0.07 EPS.

A number of analysts have recently issued reports on PING shares. Wells Fargo & Company lifted their price objective on shares of Ping Identity from $32.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, November 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Ping Identity from $26.00 to $28.00 and gave the stock a “hold” rating in a report on Thursday, November 4th. Stephens raised their target price on Ping Identity from $33.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday, August 5th. Royal Bank of Canada boosted their price target on Ping Identity from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 4th. Finally, Zacks Investment Research upgraded Ping Identity from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 3rd. Seven research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $33.64.

Ping Identity stock traded down $0.03 during midday trading on Thursday, hitting $24.31. 865,211 shares of the company were exchanged, compared to its average volume of 1,039,676. The company has a market cap of $2.03 billion, a P/E ratio of -47.67 and a beta of 1.03. Ping Identity has a fifty-two week low of $20.70 and a fifty-two week high of $37.23. The stock has a fifty day simple moving average of $26.34. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.16.

In related news, CEO Andre Wong Durand sold 100,000 shares of the company’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $25.37, for a total value of $2,537,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vep Group, Llc sold 900,000 shares of the stock in a transaction that occurred on Monday, August 30th. The shares were sold at an average price of $23.60, for a total transaction of $21,240,000.00. The disclosure for this sale can be found here. Insiders have sold 12,502,000 shares of company stock worth $344,105,060 over the last three months. 1.90% of the stock is owned by corporate insiders.

A number of institutional investors have recently modified their holdings of PING. Vanguard Group Inc. lifted its holdings in Ping Identity by 18.1% in the 2nd quarter. Vanguard Group Inc. now owns 4,461,079 shares of the company’s stock valued at $102,159,000 after acquiring an additional 685,095 shares during the last quarter. BlackRock Inc. lifted its stake in Ping Identity by 30.0% during the third quarter. BlackRock Inc. now owns 4,439,119 shares of the company’s stock valued at $109,069,000 after purchasing an additional 1,024,842 shares during the last quarter. FIL Ltd grew its position in Ping Identity by 2.2% in the third quarter. FIL Ltd now owns 2,662,179 shares of the company’s stock worth $65,410,000 after buying an additional 57,701 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Ping Identity by 28.3% in the second quarter. Legal & General Group Plc now owns 2,653,761 shares of the company’s stock valued at $60,771,000 after buying an additional 585,218 shares in the last quarter. Finally, Bamco Inc. NY lifted its position in shares of Ping Identity by 77.1% during the 2nd quarter. Bamco Inc. NY now owns 1,527,131 shares of the company’s stock valued at $34,971,000 after acquiring an additional 665,000 shares during the last quarter. Hedge funds and other institutional investors own 88.91% of the company’s stock.

About Ping Identity

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions for the enterprise in the United States and internationally. Its Ping Intelligent Identity platform provides customers, workforce, and partners with access to cloud, mobile, Software-as-a-Service, and on-premise applications.

Further Reading: Float

Get a free copy of the Zacks research report on Ping Identity (PING)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ping Identity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ping Identity and related companies with MarketBeat.com's FREE daily email newsletter.