Stifel Nicolaus Reaffirms Downgrade Rating for Ping Identity (NYSE:PING)

Stifel Nicolaus reaffirmed their downgrade rating on shares of Ping Identity (NYSE:PINGGet Rating) in a research note published on Wednesday morning, Benzinga reports.

Several other equities research analysts have also recently commented on PING. Piper Sandler cut their target price on Ping Identity from $25.00 to $20.00 in a research note on Wednesday, July 13th. Wells Fargo & Company cut their target price on Ping Identity from $35.00 to $27.00 and set an overweight rating on the stock in a research note on Monday, July 18th. KeyCorp restated a downgrade rating on shares of Ping Identity in a research note on Wednesday. Barclays lowered their price target on Ping Identity from $30.00 to $26.00 and set an overweight rating on the stock in a research report on Tuesday, July 12th. Finally, DA Davidson lowered Ping Identity from a buy rating to a neutral rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Ping Identity has a consensus rating of Hold and a consensus target price of $28.68.

Ping Identity Stock Down 0.1 %

Ping Identity stock opened at $27.97 on Wednesday. Ping Identity has a 1 year low of $15.85 and a 1 year high of $30.40. The business has a 50-day moving average of $19.18 and a 200-day moving average of $21.30. The company has a debt-to-equity ratio of 0.40, a quick ratio of 3.39 and a current ratio of 3.39.

Ping Identity (NYSE:PINGGet Rating) last posted its earnings results on Wednesday, August 3rd. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.21). The company had revenue of $72.00 million for the quarter, compared to analyst estimates of $73.30 million. Ping Identity had a negative return on equity of 9.77% and a negative net margin of 34.24%. Ping Identity’s quarterly revenue was down 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. As a group, sell-side analysts expect that Ping Identity will post -0.83 EPS for the current year.

Insider Activity

In other news, CEO Andre Wong Durand sold 100,000 shares of the company’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $27.87, for a total transaction of $2,787,000.00. Following the completion of the sale, the chief executive officer now directly owns 502,416 shares in the company, valued at approximately $14,002,333.92. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.89% of the company’s stock.

Institutional Trading of Ping Identity

Several institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc lifted its position in shares of Ping Identity by 4.0% during the 4th quarter. Legal & General Group Plc now owns 3,311,199 shares of the company’s stock worth $75,760,000 after buying an additional 126,956 shares during the last quarter. Senvest Management LLC bought a new position in Ping Identity in the fourth quarter valued at about $68,672,000. Keenan Capital LLC raised its position 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. First Trust Advisors LP bought a new position in Ping Identity in the first quarter valued at about $76,424,000. Finally, Point72 Asset Management L.P. raised its position in Ping Identity by 47.1% in the fourth quarter. Point72 Asset Management L.P. now owns 2,013,700 shares of the company’s stock valued at $46,073,000 after purchasing an additional 645,200 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.

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.

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Analyst Recommendations for Ping Identity (NYSE:PING)

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