Zacks: Brokerages Anticipate Ping Identity Holding Corp. (NYSE:PING) to Post -$0.01 EPS

Equities research analysts expect Ping Identity Holding Corp. (NYSE:PINGGet Rating) to announce earnings per share (EPS) of ($0.01) for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for Ping Identity’s earnings. The lowest EPS estimate is ($0.07) and the highest is $0.06. Ping Identity reported earnings of $0.04 per share during the same quarter last year, which indicates a negative year over year growth rate of 125%. The business is scheduled to issue its next earnings report after the market closes on Monday, January 1st.

According to Zacks, analysts expect that Ping Identity will report full-year earnings of ($0.09) per share for the current fiscal year, with EPS estimates ranging from ($0.28) to $0.13. For the next year, analysts expect that the company will post earnings of $0.15 per share, with EPS estimates ranging from ($0.08) to $0.47. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Ping Identity.

Ping Identity (NYSE:PINGGet Rating) last announced its quarterly earnings data on Thursday, February 24th. The company reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.12). Ping Identity had a negative net margin of 21.50% and a negative return on equity of 4.65%. The firm had revenue of $75.42 million during the quarter, compared to analysts’ expectations of $71.39 million. During the same period in the prior year, the company posted $0.04 EPS. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year.

PING has been the topic of a number of recent analyst reports. BTIG Research decreased their target price on shares of Ping Identity from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 14th. Piper Sandler upped their target price on shares of Ping Identity from $25.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, January 6th. Wells Fargo & Company upped their target price on shares of Ping Identity from $28.00 to $35.00 and gave the company an “overweight” rating in a research report on Wednesday, March 30th. Stifel Nicolaus raised shares of Ping Identity from a “hold” rating to a “buy” rating and upped their target price for the company from $25.00 to $30.00 in a research report on Thursday, March 24th. Finally, Mizuho decreased their target price on shares of Ping Identity from $33.00 to $28.00 in a research report on Tuesday, January 18th. One analyst has rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $32.27.

Shares of PING traded down $1.17 during mid-day trading on Friday, reaching $26.13. The stock had a trading volume of 580,174 shares, compared to its average volume of 1,037,314. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.30 and a quick ratio of 3.30. Ping Identity has a 52-week low of $17.60 and a 52-week high of $30.40. The business’s fifty day moving average is $24.47 and its 200 day moving average is $23.61. The firm has a market cap of $2.19 billion, a price-to-earnings ratio of -33.50 and a beta of 1.13.

In related news, COO Bryan Kristian Nagel sold 59,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 13th. The shares were sold at an average price of $30.07, for a total value of $1,774,130.00. Following the sale, the chief operating officer now owns 473,387 shares of the company’s stock, valued at $14,234,747.09. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Andre Wong Durand sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, March 25th. The shares were sold at an average price of $26.04, for a total transaction of $2,604,000.00. The disclosure for this sale can be found here. Insiders have sold 224,564 shares of company stock worth $6,259,867 in the last three months. Corporate insiders own 2.89% of the company’s stock.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. raised its holdings in Ping Identity by 19.1% in the fourth quarter. BlackRock Inc. now owns 5,288,146 shares of the company’s stock valued at $120,991,000 after acquiring an additional 849,027 shares in the last quarter. Legal & General Group Plc increased its stake in Ping Identity by 4.0% in the fourth quarter. Legal & General Group Plc now owns 3,311,199 shares of the company’s stock valued at $75,760,000 after purchasing an additional 126,956 shares during the last quarter. Senvest Management LLC purchased a new position in Ping Identity in the fourth quarter valued at approximately $68,672,000. Keenan Capital LLC increased its stake in 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 purchasing an additional 591,691 shares during the last quarter. Finally, FIL Ltd increased its stake in Ping Identity by 2.2% in the third quarter. FIL Ltd now owns 2,662,179 shares of the company’s stock valued at $65,410,000 after purchasing an additional 57,701 shares during the last quarter. 88.14% of the stock is currently owned by hedge funds and other institutional investors.

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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