DA Davidson Weighs in on Ping Identity Holding Corp.’s Q1 2022 Earnings (NYSE:PING)

Ping Identity Holding Corp. (NYSE:PINGGet Rating) – Stock analysts at DA Davidson issued their Q1 2022 EPS estimates for Ping Identity in a research report issued on Tuesday, April 12th. DA Davidson analyst R. Kessinger forecasts that the company will post earnings per share of ($0.16) for the quarter. DA Davidson currently has a “Buy” rating and a $38.00 target price on the stock. DA Davidson also issued estimates for Ping Identity’s FY2022 earnings at ($0.71) EPS and FY2023 earnings at ($0.47) EPS.

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

PING has been the subject of several other research reports. Wells Fargo & Company raised their price objective on shares of Ping Identity from $28.00 to $35.00 and gave the company an “overweight” rating in a research note on Wednesday, March 30th. Zacks Investment Research lowered shares of Ping Identity from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 8th. Barclays lowered their price objective on shares of Ping Identity from $35.00 to $30.00 and set an “overweight” rating for the company in a research note on Wednesday, January 19th. Stifel Nicolaus upgraded shares of Ping Identity from a “hold” rating to a “buy” rating and lifted their price target for the stock from $25.00 to $30.00 in a research note on Thursday, March 24th. Finally, BTIG Research decreased their price target on shares of Ping Identity from $37.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, February 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Ping Identity has a consensus rating of “Buy” and a consensus price target of $32.27.

NYSE PING opened at $29.57 on Thursday. The firm has a 50 day simple moving average of $22.77 and a 200-day simple moving average of $23.43. 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 has a one year low of $17.60 and a one year high of $30.40. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of -37.91 and a beta of 1.13.

Several institutional investors have recently made changes to their positions in PING. Mirador Capital Partners LP increased its stake in Ping Identity by 45.6% in the 4th quarter. Mirador Capital Partners LP now owns 16,392 shares of the company’s stock valued at $375,000 after buying an additional 5,132 shares during the period. Versor Investments LP acquired a new position in Ping Identity in the 3rd quarter valued at $267,000. Metropolitan Life Insurance Co NY increased its stake in Ping Identity by 21.9% in the 3rd quarter. Metropolitan Life Insurance Co NY now owns 13,375 shares of the company’s stock valued at $329,000 after buying an additional 2,406 shares during the period. Geode Capital Management LLC increased its stake in Ping Identity by 12.1% in the 3rd quarter. Geode Capital Management LLC now owns 747,288 shares of the company’s stock valued at $18,360,000 after buying an additional 80,904 shares during the period. Finally, Parametric Portfolio Associates LLC increased its stake in Ping Identity by 11.8% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 44,674 shares of the company’s stock valued at $1,023,000 after buying an additional 4,711 shares during the period. 88.14% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Andre Wong Durand sold 100,000 shares of Ping Identity stock in a transaction on 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Bryan Kristian Nagel sold 59,000 shares of Ping Identity stock in a transaction on Wednesday, April 13th. The shares were sold at an average price of $30.07, for a total transaction of $1,774,130.00. Following the completion of the transaction, the chief operating officer now directly owns 473,387 shares in the company, valued at $14,234,747.09. The disclosure for this sale can be found here. In the last three months, insiders have sold 224,564 shares of company stock worth $6,259,867. 2.89% of the stock is owned by corporate insiders.

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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