Ping Identity (NYSE:PING) Trading 7.6% Higher

Ping Identity Holding Corp. (NYSE:PINGGet Rating) shares rose 7.6% during mid-day trading on Monday . The stock traded as high as $28.00 and last traded at $28.00. Approximately 10,607 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 1,080,357 shares. The stock had previously closed at $26.02.

Several research firms have weighed in on PING. Mizuho lowered their target price on shares of Ping Identity from $33.00 to $28.00 in a research note on Tuesday, January 18th. KeyCorp started coverage on Ping Identity in a report on Monday, April 4th. They issued an “overweight” rating and a $34.00 target price on the stock. Wells Fargo & Company increased their price objective on Ping Identity from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. BTIG Research reduced their target price on Ping Identity from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Monday, February 14th. Finally, Piper Sandler raised their target price on Ping Identity from $25.00 to $30.00 and gave the company a “neutral” rating in a research note on Thursday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $31.92.

The company has a debt-to-equity ratio of 0.39, a current ratio of 3.30 and a quick ratio of 3.30. The business’s fifty day simple moving average is $21.96. The firm has a market capitalization of $2.35 billion, a P/E ratio of -35.99 and a beta of 1.13.

Ping Identity (NYSE:PINGGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.03). The firm had revenue of $75.42 million for the quarter, compared to analyst estimates of $71.39 million. Ping Identity had a negative return on equity of 4.65% and a negative net margin of 21.50%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.04 EPS. As a group, equities analysts forecast that Ping Identity Holding Corp. will post -0.56 EPS for the current fiscal year.

In other Ping Identity news, CEO Andre Wong Durand sold 100,000 shares of the company’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $26.04, for a total value of $2,604,000.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.89% of the stock is currently owned by insiders.

Several hedge funds have recently made changes to their positions in the company. Senvest Management LLC acquired a new position in Ping Identity during the 4th quarter valued at about $68,672,000. BlackRock Inc. raised its position in Ping Identity by 30.0% during the third quarter. BlackRock Inc. now owns 4,439,119 shares of the company’s stock valued at $109,069,000 after acquiring an additional 1,024,842 shares in the last quarter. Point72 Asset Management L.P. raised its position in shares of Ping Identity by 47.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,013,700 shares of the company’s stock valued at $46,073,000 after purchasing an additional 645,200 shares during the period. Two Sigma Investments LP grew its stake in shares of Ping Identity by 136.2% in the third quarter. Two Sigma Investments LP now owns 1,039,131 shares of the company’s stock worth $25,531,000 after acquiring an additional 599,177 shares during the last quarter. Finally, Keenan Capital LLC grew its stake in shares of Ping Identity by 25.4% in the fourth quarter. Keenan Capital LLC now owns 2,921,691 shares of the company’s stock worth $66,848,000 after acquiring an additional 591,691 shares during the last quarter. Institutional investors and hedge funds own 88.14% of the company’s stock.

About Ping Identity (NYSE:PING)

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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