Ping Identity Holding Corp. (NYSE:PING) Expected to Announce Quarterly Sales of $71.55 Million

Wall Street analysts expect that Ping Identity Holding Corp. (NYSE:PING) will announce sales of $71.55 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have issued estimates for Ping Identity’s earnings. The lowest sales estimate is $70.37 million and the highest is $73.10 million. Ping Identity posted sales of $63.26 million in the same quarter last year, which suggests a positive year-over-year growth rate of 13.1%. The business is scheduled to issue its next earnings report on Wednesday, February 23rd.

On average, analysts expect that Ping Identity will report full-year sales of $295.58 million for the current fiscal year, with estimates ranging from $294.41 million to $297.10 million. For the next financial year, analysts anticipate that the company will post sales of $332.31 million, with estimates ranging from $322.01 million to $343.52 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover Ping Identity.

Ping Identity (NYSE:PING) last announced its earnings results on Wednesday, November 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.09) by $0.16. Ping Identity had a negative return on equity of 1.67% and a negative net margin of 14.54%. During the same quarter last year, the company posted $0.07 EPS.

A number of research analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft increased their price objective on Ping Identity from $26.00 to $28.00 and gave the company a “hold” rating in a report on Thursday, November 4th. Stephens increased their price objective on Ping Identity from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, August 5th. Zacks Investment Research raised Ping Identity from a “strong sell” rating to a “hold” rating in a report on Wednesday, November 3rd. Raymond James increased their price objective on Ping Identity from $42.00 to $44.00 and gave the company a “strong-buy” rating in a report on Thursday, November 4th. Finally, Colliers Securities reissued a “buy” rating and issued a $35.00 price objective on shares of Ping Identity in a report on Thursday, September 23rd. Seven equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Ping Identity currently has a consensus rating of “Buy” and a consensus target price of $33.64.

NYSE:PING traded down $0.03 during mid-day trading on Friday, hitting $24.31. 865,211 shares of the company’s stock traded hands, compared to its average volume of 1,039,676. The stock has a fifty day moving average of $26.34. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.03 billion, a P/E ratio of -47.67 and a beta of 1.03. Ping Identity has a twelve month low of $20.70 and a twelve month high of $37.23.

In other news, CEO Andre Wong Durand sold 100,000 shares of the company’s stock in a transaction on Monday, November 22nd. The shares were sold at an average price of $25.37, for a total transaction of $2,537,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Vep Group, Llc sold 900,000 shares of the company’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $23.60, for a total transaction of $21,240,000.00. The disclosure for this sale can be found here. Insiders have sold 12,502,000 shares of company stock worth $344,105,060 in the last quarter. 1.90% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in PING. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Ping Identity in the third quarter valued at about $49,000. First Pacific Advisors LP purchased a new stake in shares of Ping Identity in the third quarter valued at about $77,000. Tudor Investment Corp Et Al purchased a new stake in shares of Ping Identity in the third quarter valued at about $205,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of Ping Identity in the first quarter valued at about $217,000. Finally, Hoylecohen LLC purchased a new stake in shares of Ping Identity in the first quarter valued at about $242,000. 88.91% of the stock is owned by hedge funds and other institutional investors.

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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