Ping Identity Holding Corp. (NYSE:PING) Given Consensus Rating of “Hold” by Brokerages

Ping Identity Holding Corp. (NYSE:PINGGet Rating) has received a consensus recommendation of “Hold” from the sixteen ratings firms that are presently covering the company, MarketBeat Ratings reports. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $26.70.

PING has been the subject of a number of recent analyst reports. Bank of America lowered Ping Identity from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $28.00 to $19.00 in a research report on Friday, July 29th. DA Davidson downgraded Ping Identity to a “neutral” rating in a research note on Wednesday. KeyCorp restated a “downgrade” rating on shares of Ping Identity in a research note on Wednesday. The Goldman Sachs Group boosted their price target on Ping Identity from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday, April 12th. Finally, Royal Bank of Canada cut their price target on Ping Identity from $33.00 to $25.00 and set a “maintains” rating for the company in a research note on Monday.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PING. Russell Investments Group Ltd. lifted its holdings in Ping Identity by 19.7% in the 4th quarter. Russell Investments Group Ltd. now owns 75,931 shares of the company’s stock worth $1,736,000 after purchasing an additional 12,476 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in Ping Identity in the 4th quarter worth approximately $400,000. Qube Research & Technologies Ltd raised its holdings in shares of Ping Identity by 331.5% during the 4th quarter. Qube Research & Technologies Ltd now owns 36,670 shares of the company’s stock worth $839,000 after acquiring an additional 28,171 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Ping Identity by 95.2% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,899 shares of the company’s stock valued at $204,000 after acquiring an additional 4,341 shares during the last quarter. Finally, Yarbrough Capital LLC purchased a new position in shares of Ping Identity in the fourth quarter valued at $290,000. 84.31% of the stock is owned by hedge funds and other institutional investors.

Ping Identity Price Performance

Shares of NYSE:PING opened at $28.08 on Thursday. Ping Identity has a fifty-two week low of $15.85 and a fifty-two week high of $30.40. The business has a 50-day simple moving average of $18.85 and a two-hundred day simple moving average of $21.19. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.39 and a current ratio of 3.39. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of -34.24 and a beta of 0.95.

Ping Identity (NYSE:PINGGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). Ping Identity had a negative return on equity of 4.99% and a negative net margin of 21.80%. The business had revenue of $84.69 million during the quarter, compared to analysts’ expectations of $80.60 million. During the same period last year, the firm posted ($0.12) EPS. Ping Identity’s quarterly revenue was up 22.8% compared to the same quarter last year. On average, analysts expect that Ping Identity will post -0.83 earnings per share for the current year.

About Ping Identity

(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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