Ping Identity (NYSE:PING) Price Target Cut to $25.00 by Analysts at Royal Bank of Canada

Ping Identity (NYSE:PINGGet Rating) had its target price decreased by Royal Bank of Canada from $33.00 to $25.00 in a report issued on Monday morning, The Fly reports.

PING has been the topic of a number of other research reports. KeyCorp decreased their target price on shares of Ping Identity from $34.00 to $27.00 and set an overweight rating on the stock in a research note on Friday, July 22nd. The Goldman Sachs Group raised their target price on shares of Ping Identity from $28.00 to $31.00 and gave the stock a buy rating in a research note on Tuesday, April 12th. Mizuho decreased their target price on shares of Ping Identity from $29.00 to $25.00 and set a neutral rating on the stock in a research note on Tuesday, July 19th. Barclays decreased their target price on shares of Ping Identity from $30.00 to $26.00 and set an overweight rating on the stock in a research note on Tuesday, July 12th. Finally, Piper Sandler decreased their target price on shares of Ping Identity from $25.00 to $20.00 in a research note on Wednesday, July 13th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $28.87.

Ping Identity Stock Performance

PING opened at $17.17 on Monday. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.40. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -20.94 and a beta of 0.96. The company’s 50 day moving average is $18.72 and its 200 day moving average is $21.19. Ping Identity has a 12-month low of $15.85 and a 12-month high of $30.40.

Ping Identity (NYSE:PINGGet Rating) last posted its quarterly earnings data on Wednesday, May 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $80.60 million. Ping Identity had a negative return on equity of 4.99% and a negative net margin of 21.80%. The business’s quarterly revenue was up 22.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.12) EPS. On average, equities research analysts predict that Ping Identity will post -0.8 EPS for the current year.

Institutional Investors Weigh In On Ping Identity

Several large investors have recently bought and sold shares of the business. Legal & General Group Plc increased its position in Ping Identity by 4.0% in the fourth quarter. Legal & General Group Plc now owns 3,311,199 shares of the company’s stock worth $75,760,000 after purchasing an additional 126,956 shares during the last quarter. Senvest Management LLC bought a new stake in Ping Identity in the fourth quarter worth $68,672,000. Keenan Capital LLC boosted its stake in Ping Identity by 25.4% during the fourth quarter. Keenan Capital LLC now owns 2,921,691 shares of the company’s stock worth $66,848,000 after buying an additional 591,691 shares during the period. First Trust Advisors LP purchased a new position in Ping Identity during the first quarter worth $76,424,000. Finally, Point72 Asset Management L.P. boosted its stake in Ping Identity by 47.1% during the fourth quarter. Point72 Asset Management L.P. now owns 2,013,700 shares of the company’s stock worth $46,073,000 after buying an additional 645,200 shares during the period. Institutional investors own 84.31% of the company’s stock.

Ping Identity Company Profile

(Get Rating)

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

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