Ping Identity (NYSE:PING) Now Covered by Analysts at DA Davidson

Stock analysts at DA Davidson assumed coverage on shares of Ping Identity (NYSE:PINGGet Rating) in a research note issued on Tuesday, Briefing.com reports. The firm set a “buy” rating on the stock.

A number of other research firms have also issued reports on PING. Mizuho dropped their target price on Ping Identity from $33.00 to $28.00 in a report on Tuesday, January 18th. Wells Fargo & Company boosted their target price on Ping Identity from $28.00 to $35.00 and gave the company an “overweight” rating in a report on Wednesday, March 30th. BTIG Research dropped their target price on Ping Identity from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, February 14th. Stifel Nicolaus raised Ping Identity from a “hold” rating to a “buy” rating and boosted their target price for the company from $25.00 to $30.00 in a report on Thursday, March 24th. Finally, Zacks Investment Research lowered Ping Identity from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Ping Identity presently has a consensus rating of “Buy” and a consensus price target of $31.86.

PING stock opened at $28.18 on Tuesday. The stock has a market capitalization of $2.36 billion, a PE ratio of -36.13 and a beta of 1.13. Ping Identity has a fifty-two week low of $17.60 and a fifty-two week high of $30.25. The stock’s 50 day simple moving average is $22.13. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.30 and a current ratio of 3.30.

Ping Identity (NYSE:PINGGet Rating) last released its quarterly earnings results on Thursday, February 24th. The company reported ($0.13) EPS for the quarter, missing the 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 company’s quarterly revenue was up 19.2% on a year-over-year basis. During the same period last year, the firm earned $0.04 EPS. Research analysts predict that Ping Identity will post -0.56 EPS for the current fiscal year.

In other news, CEO Andre Wong Durand sold 100,000 shares of the company’s stock in a transaction on Friday, March 25th. The stock was 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 through this link. 2.89% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Senvest Management LLC acquired a new stake in Ping Identity during the fourth quarter worth about $68,672,000. BlackRock Inc. grew its stake in shares of Ping Identity by 30.0% in the third quarter. BlackRock Inc. now owns 4,439,119 shares of the company’s stock valued at $109,069,000 after buying an additional 1,024,842 shares in the last quarter. Point72 Asset Management L.P. grew its stake 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 buying an additional 645,200 shares in the last quarter. 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 valued at $25,531,000 after buying an additional 599,177 shares in 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 valued at $66,848,000 after buying an additional 591,691 shares in the last quarter. Hedge funds and other institutional investors own 88.14% of the company’s stock.

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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