Ping Identity (NYSE:PING) Receives New Coverage from Analysts at Needham & Company LLC

Analysts at Needham & Company LLC assumed coverage on shares of Ping Identity (NYSE:PING) in a report issued on Friday, The Fly reports. The brokerage set a “hold” rating on the stock.

A number of other brokerages have also recently commented on PING. Stifel Nicolaus started coverage on Ping Identity in a research note on Monday, May 24th. They issued a “hold” rating for the company. Zacks Investment Research cut Ping Identity from a “hold” rating to a “strong sell” rating in a research note on Friday, May 14th. Deutsche Bank Aktiengesellschaft started coverage on Ping Identity in a research note on Tuesday, February 23rd. They issued a “hold” rating and a $32.00 price objective for the company. TheStreet cut Ping Identity from a “c-” rating to a “d+” rating in a research note on Thursday, March 11th. Finally, Barclays cut their target price on Ping Identity from $33.00 to $27.00 and set an “overweight” rating on the stock in a research report on Friday, April 16th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $34.41.

Shares of Ping Identity stock opened at $24.94 on Friday. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.05. Ping Identity has a 52 week low of $19.97 and a 52 week high of $37.80. The firm has a 50 day moving average price of $23.58. The firm has a market capitalization of $2.05 billion, a PE ratio of -86.00 and a beta of 0.94.

In other Ping Identity news, major shareholder Vep Group, Llc sold 5,746,985 shares of the business’s stock in a transaction on Monday, May 10th. The stock was sold at an average price of $23.60, for a total value of $135,628,846.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 5,749,985 shares of company stock worth $135,699,646. Corporate insiders own 1.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its stake in shares of Ping Identity by 1.7% during the 1st quarter. UBS Asset Management Americas Inc. now owns 50,430 shares of the company’s stock valued at $1,106,000 after purchasing an additional 830 shares during the period. Nisa Investment Advisors LLC bought a new stake in shares of Ping Identity during the 4th quarter valued at $37,000. Banque Cantonale Vaudoise raised its stake in shares of Ping Identity by 233.3% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,000 shares of the company’s stock valued at $57,000 after purchasing an additional 1,400 shares during the period. Banco de Sabadell S.A bought a new stake in shares of Ping Identity during the 1st quarter valued at $33,000. Finally, Wealth Management Partners LLC grew its position in Ping Identity by 18.1% during the first quarter. Wealth Management Partners LLC now owns 11,345 shares of the company’s stock worth $245,000 after buying an additional 1,735 shares in the last quarter. Institutional investors own 91.32% of the company’s stock.

Ping Identity Company Profile

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions for the enterprise in the United States and internationally. Its Ping Intelligent Identity platform provides customers, workforce, and partners with access to cloud, mobile, Software-as-a-Service, and on-premise applications.

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