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. “
PING has been the subject of several other research reports. Robert W. Baird began coverage on Ping Identity in a report on Tuesday, June 23rd. They issued a neutral rating and a $33.00 price objective for the company. Wells Fargo & Co increased their price objective on Ping Identity from $30.00 to $35.00 and gave the stock an overweight rating in a report on Tuesday, July 7th. Goldman Sachs Group increased their price objective on Ping Identity from $22.00 to $35.00 and gave the stock a neutral rating in a report on Wednesday, June 24th. They noted that the move was a valuation call. Barclays increased their price objective on Ping Identity from $26.00 to $35.00 and gave the stock an overweight rating in a report on Tuesday, July 14th. Finally, Piper Sandler assumed coverage on Ping Identity in a report on Wednesday, May 27th. They issued an overweight rating and a $32.00 price objective for the company. 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 company currently has a consensus rating of Buy and a consensus price target of $28.82.
PING opened at $34.36 on Wednesday. The stock’s 50 day simple moving average is $32.29 and its 200 day simple moving average is $26.10. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.86 and a quick ratio of 4.86. Ping Identity has a 1 year low of $12.02 and a 1 year high of $35.79. The firm has a market cap of $2.76 billion and a price-to-earnings ratio of 92.86.
Ping Identity (NYSE:PING) last posted its quarterly earnings results 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 company had revenue of $61.40 million for the quarter, compared to the consensus estimate of $60.32 million. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts anticipate 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 Ping Identity 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Adriana Zenia Carpenter sold 11,667 shares of Ping Identity stock in a transaction on Monday, May 11th. The shares were sold at an average price of $27.50, for a total value of $320,842.50. Following the transaction, the chief accounting officer now owns 50,375 shares of the company’s stock, valued at approximately $1,385,312.50. The disclosure for this sale can be found here. Insiders have sold 11,752,102 shares of company stock valued at $365,368,463 in the last quarter. 2.50% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in the business. Ladenburg Thalmann Financial Services Inc. bought a new stake in shares of Ping Identity in the 4th quarter worth $33,000. Advisor Group Holdings Inc. bought a new stake in shares of Ping Identity in the 1st quarter worth $35,000. Citigroup Inc. bought a new stake in shares of Ping Identity in the 4th quarter worth $68,000. First Mercantile Trust Co. bought a new stake in shares of Ping Identity in the 1st quarter worth $189,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in shares of Ping Identity in the 2nd quarter worth $202,000. Institutional investors and hedge funds 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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