Ping Identity (NYSE:PING) Downgraded by BTIG Research

Ping Identity (NYSE:PINGGet Rating) was downgraded by equities researchers at BTIG Research from a “buy” rating to a “neutral” rating in a research report issued on Thursday, The Fly reports.

Other equities analysts have also issued research reports about the stock. Bank of America lowered shares of Ping Identity from a “buy” rating to a “neutral” rating and reduced their target price for the company from $28.00 to $19.00 in a report on Friday, July 29th. Stifel Nicolaus reaffirmed a “downgrade” rating on shares of Ping Identity in a research report on Wednesday. The Goldman Sachs Group increased their price target 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. Barclays decreased their price target on shares of Ping Identity from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Tuesday, July 12th. Finally, Mizuho reduced their price objective on shares of Ping Identity from $29.00 to $25.00 and set a “neutral” rating for the company in a research note on Tuesday, July 19th. Ten analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Ping Identity has a consensus rating of “Hold” and an average target price of $28.68.

Ping Identity Stock Down 0.1 %

PING opened at $27.97 on Thursday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -22.38 and a beta of 0.95. The company has a quick ratio of 3.39, a current ratio of 3.39 and a debt-to-equity ratio of 0.40. The company’s 50-day moving average price is $19.18 and its two-hundred day moving average price is $21.30. Ping Identity has a twelve month low of $15.85 and a twelve month high of $30.40.

Ping Identity (NYSE:PINGGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.21). The firm had revenue of $72.00 million for the quarter, compared to the consensus estimate of $73.30 million. Ping Identity had a negative return on equity of 9.77% and a negative net margin of 34.24%. The business’s revenue was down 8.7% on a year-over-year basis. During the same period last year, the company posted ($0.04) EPS. As a group, equities analysts expect that Ping Identity will post -0.83 earnings per share for the current year.

Insider Activity

In other Ping Identity news, CEO Andre Wong Durand sold 100,000 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $27.87, for a total value of $2,787,000.00. Following the transaction, the chief executive officer now owns 502,416 shares in the company, valued at approximately $14,002,333.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.89% of the company’s stock.

Institutional Trading of Ping Identity

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Victory Capital Management Inc. boosted its stake in shares of Ping Identity by 1.5% in the 2nd quarter. Victory Capital Management Inc. now owns 50,406 shares of the company’s stock valued at $914,000 after buying an additional 725 shares during the period. Teacher Retirement System of Texas grew its holdings in Ping Identity by 6.9% during the first quarter. Teacher Retirement System of Texas now owns 14,744 shares of the company’s stock worth $404,000 after acquiring an additional 950 shares during the period. Nisa Investment Advisors LLC boosted its position in Ping Identity by 164.3% during the second quarter. Nisa Investment Advisors LLC now owns 1,850 shares of the company’s stock worth $34,000 after purchasing an additional 1,150 shares in the last quarter. Ensign Peak Advisors Inc boosted its position in Ping Identity by 175.3% during the first quarter. Ensign Peak Advisors Inc now owns 2,230 shares of the company’s stock worth $61,000 after purchasing an additional 1,420 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its stake in Ping Identity by 2.1% during the 2nd quarter. Banque Cantonale Vaudoise now owns 83,380 shares of the company’s stock valued at $1,513,000 after purchasing an additional 1,710 shares in the last quarter. 84.31% of the stock is owned by institutional investors and hedge funds.

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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