Analysts Expect Ping Identity Holding Corp. (NYSE:PING) Will Post Quarterly Sales of $73.26 Million

Wall Street brokerages expect Ping Identity Holding Corp. (NYSE:PINGGet Rating) to report $73.26 million in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Ping Identity’s earnings. The lowest sales estimate is $72.50 million and the highest is $74.75 million. Ping Identity posted sales of $78.90 million in the same quarter last year, which suggests a negative year over year growth rate of 7.1%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that Ping Identity will report full year sales of $336.95 million for the current financial year, with estimates ranging from $333.10 million to $340.00 million. For the next year, analysts forecast that the firm will post sales of $395.86 million, with estimates ranging from $382.70 million to $407.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Ping Identity.

Ping Identity (NYSE:PINGGet Rating) last issued its quarterly earnings data on Wednesday, May 4th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.07. Ping Identity had a negative return on equity of 4.99% and a negative net margin of 21.80%. The business had revenue of $84.69 million for the quarter, compared to the consensus estimate of $80.60 million. During the same period in the prior year, the business posted ($0.12) earnings per share. The company’s quarterly revenue was up 22.8% compared to the same quarter last year.

Several equities research analysts have recently weighed in on PING shares. Wells Fargo & Company increased their price target on Ping Identity from $28.00 to $35.00 and gave the stock an “overweight” rating in a report on Wednesday, March 30th. The Goldman Sachs Group increased their price objective on Ping Identity from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, April 12th. BTIG Research dropped their target price on Ping Identity from $37.00 to $30.00 and set a “buy” rating on the stock in a research report on Monday, February 14th. KeyCorp started coverage on Ping Identity in a research report on Monday, April 4th. They set an “overweight” rating and a $34.00 target price on the stock. Finally, DA Davidson started coverage on Ping Identity in a research report on Tuesday, April 12th. They set a “buy” rating and a $38.00 target price on the stock. Five research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Ping Identity presently has a consensus rating of “Buy” and a consensus target price of $32.33.

In related news, CEO Andre Wong Durand sold 100,000 shares of the firm’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $26.04, for a total value of $2,604,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Bryan Kristian Nagel sold 59,000 shares of Ping Identity stock in a transaction dated 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 transaction, the chief operating officer now owns 473,387 shares of the company’s stock, valued at approximately $14,234,747.09. The disclosure for this sale can be found here. Insiders sold a total of 224,564 shares of company stock valued at $6,259,867 in the last 90 days. 2.89% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. increased its stake in shares of Ping Identity by 19.1% in the 4th quarter. BlackRock Inc. now owns 5,288,146 shares of the company’s stock valued at $120,991,000 after purchasing an additional 849,027 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Ping Identity by 4.0% in the 4th 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 in the last quarter. Senvest Management LLC purchased a new position in shares of Ping Identity in the 4th quarter valued at about $68,672,000. Keenan Capital LLC increased its stake in shares of Ping Identity by 25.4% in the 4th 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 in the last quarter. Finally, First Trust Advisors LP purchased a new position in shares of Ping Identity in the 1st quarter valued at about $76,424,000. Institutional investors and hedge funds own 84.31% of the company’s stock.

PING stock traded up $0.69 during midday trading on Monday, reaching $19.93. 540,815 shares of the company traded hands, compared to its average volume of 1,093,943. Ping Identity has a 52-week low of $17.25 and a 52-week high of $30.40. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.39 and a current ratio of 3.39. The business has a 50 day moving average of $24.57 and a 200-day moving average of $22.79. The firm has a market capitalization of $1.70 billion, a price-to-earnings ratio of -24.30 and a beta of 1.08.

Ping Identity Company Profile (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.

See Also

Get a free copy of the Zacks research report on Ping Identity (PING)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Ping Identity Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ping Identity and related companies with MarketBeat.com's FREE daily email newsletter.