Ping Identity Holding Corp (NYSE:PING) Expected to Announce Quarterly Sales of $55.12 Million

Wall Street analysts forecast that Ping Identity Holding Corp (NYSE:PING) will announce sales of $55.12 million for the current quarter, according to Zacks. Five analysts have provided estimates for Ping Identity’s earnings, with estimates ranging from $54.88 million to $55.37 million. The firm is scheduled to issue its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Ping Identity will report full-year sales of $231.55 million for the current fiscal year, with estimates ranging from $231.22 million to $232.20 million. For the next financial year, analysts expect that the firm will post sales of $258.66 million, with estimates ranging from $258.20 million to $260.36 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Ping Identity.

PING has been the subject of a number of analyst reports. Goldman Sachs Group started coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Deutsche Bank started coverage on shares of Ping Identity in a report on Monday, October 14th. They issued a “buy” rating and a $21.00 price objective for the company. Royal Bank of Canada started coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued an “outperform” rating and a $20.00 target price for the company. Barclays started coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued an “overweight” rating and a $21.00 target price for the company. Finally, Stifel Nicolaus started coverage on shares of Ping Identity in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Twelve research analysts have rated the stock with a buy rating, The stock has an average rating of “Buy” and a consensus target price of $22.00.

Shares of PING traded up $0.80 during midday trading on Friday, reaching $16.34. The stock had a trading volume of 227,800 shares, compared to its average volume of 663,476. Ping Identity has a one year low of $15.22 and a one year high of $21.00.

A hedge fund recently bought a new stake in Ping Identity stock. Envestnet Asset Management Inc. bought a new stake in Ping Identity Holding Corp (NYSE:PING) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 30,810 shares of the company’s stock, valued at approximately $531,000.

About Ping Identity

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions in the United States and internationally. It operates an Intelligent Identity platform, which offers secure access to any service, application, or application programming interface (API) to customers, employees, partners, and the Internet of Things.

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