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

Shares of Ping Identity Holding Corp. (NYSE:PINGGet Rating) have been assigned an average recommendation of “Hold” from the seventeen research firms that are currently covering the company, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $25.94.

Several equities analysts have weighed in on PING shares. William Blair lowered shares of Ping Identity from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 3rd. BTIG Research lowered shares of Ping Identity from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. Wells Fargo & Company lowered shares of Ping Identity to an “equal weight” rating in a report on Tuesday, August 9th. Piper Sandler decreased their price objective on shares of Ping Identity from $25.00 to $20.00 in a report on Wednesday, July 13th. Finally, Stifel Nicolaus restated a “downgrade” rating on shares of Ping Identity in a report on Wednesday, August 3rd.

Ping Identity Stock Down 0.1 %

Shares of NYSE PING opened at $28.25 on Friday. Ping Identity has a 12-month low of $15.85 and a 12-month high of $30.40. The stock has a market cap of $2.43 billion, a PE ratio of -22.60 and a beta of 0.63. The company has a current ratio of 3.01, a quick ratio of 3.01 and a debt-to-equity ratio of 0.41. The company has a 50-day moving average of $25.55 and a 200 day moving average of $23.26.

Ping Identity (NYSE:PINGGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.46) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.22). The firm had revenue of $72.00 million during the quarter, compared to analyst estimates of $73.30 million. Ping Identity had a negative net margin of 34.24% and a negative return on equity of 9.91%. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) earnings per share. As a group, sell-side analysts predict that Ping Identity will post -0.95 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Andre Wong Durand sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $27.87, for a total transaction of $2,787,000.00. Following the sale, the chief executive officer now directly owns 502,416 shares of the company’s stock, valued at approximately $14,002,333.92. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.89% of the stock is owned by insiders.

Institutional Investors Weigh In On Ping Identity

A number of large investors have recently modified their holdings of PING. Bank of America Corp DE increased its position in shares of Ping Identity by 81.9% in the 4th quarter. Bank of America Corp DE now owns 170,526 shares of the company’s stock valued at $3,901,000 after purchasing an additional 76,783 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Ping Identity by 38.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 749,387 shares of the company’s stock valued at $17,147,000 after purchasing an additional 207,469 shares during the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of Ping Identity in the 4th quarter valued at approximately $316,000. Citigroup Inc. increased its position in shares of Ping Identity by 6.0% in the 4th quarter. Citigroup Inc. now owns 193,279 shares of the company’s stock valued at $4,422,000 after purchasing an additional 10,990 shares during the last quarter. Finally, Qube Research & Technologies Ltd grew its position in shares of Ping Identity by 331.5% in the 4th quarter. Qube Research & Technologies Ltd now owns 36,670 shares of the company’s stock valued at $839,000 after buying an additional 28,171 shares during the last quarter. 92.18% of the stock is owned by hedge funds and other institutional investors.

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.

Read More

Analyst Recommendations for Ping Identity (NYSE:PING)

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.