Ping Identity (NYSE:PING) Announces Earnings Results

Ping Identity (NYSE:PING – Get Rating) released its quarterly earnings data on Wednesday. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.21), Briefing.com reports. Ping Identity had a negative net margin of 34.24% and a negative return on equity of 9.77%. The firm had revenue of $72.00 million for the quarter, compared to the consensus estimate of $73.30 million. During the same quarter in the prior year, the business posted ($0.04) earnings per share. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year.

Ping Identity Price Performance

Shares of NYSE:PING opened at $27.97 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.39 and a quick ratio of 3.39. Ping Identity has a 1-year low of $15.85 and a 1-year high of $30.40. The company has a market capitalization of $2.39 billion, a P/E ratio of -22.38 and a beta of 0.95. The firm’s 50 day simple moving average is $19.18 and its two-hundred day simple moving average is $21.30.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PING. DA Davidson lowered shares of Ping Identity from a “buy” rating to a “neutral” rating in a research note on Wednesday. Royal Bank of Canada reduced their price target on shares of Ping Identity from $33.00 to $25.00 and set an “outperform” rating for the company in a research note on Monday, August 1st. Barclays downgraded shares of Ping Identity from an “overweight” rating to an “equal weight” rating in a report on Thursday. Mizuho raised their price objective on shares of Ping Identity from $25.00 to $28.50 and gave the stock a “neutral” rating in a report on Thursday. Finally, KeyCorp reissued a “downgrade” rating on shares of Ping Identity in a report on Wednesday. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $28.68.

Insider Buying and Selling at Ping Identity

In other Ping Identity news, CEO Andre Wong Durand sold 100,000 shares of Ping Identity stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $27.87, for a total transaction of $2,787,000.00. Following the transaction, the chief executive officer now owns 502,416 shares of the company’s stock, valued at $14,002,333.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.89% of the company’s stock.

Hedge Funds Weigh In On Ping Identity

Several hedge funds have recently modified their holdings of the stock. Ensign Peak Advisors Inc lifted its holdings in shares of Ping Identity by 175.3% in the first quarter. Ensign Peak Advisors Inc now owns 2,230 shares of the company’s stock worth $61,000 after buying an additional 1,420 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Ping Identity by 12.3% in the first quarter. Sei Investments Co. now owns 24,753 shares of the company’s stock worth $675,000 after buying an additional 2,702 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in shares of Ping Identity by 15.2% in the first quarter. Hsbc Holdings PLC now owns 45,047 shares of the company’s stock worth $1,235,000 after buying an additional 5,947 shares in the last quarter. State Street Corp lifted its holdings in shares of Ping Identity by 0.7% in the first quarter. State Street Corp now owns 1,269,273 shares of the company’s stock worth $34,816,000 after buying an additional 8,884 shares in the last quarter. Finally, MetLife Investment Management LLC increased its position in Ping Identity by 56.5% in the first quarter. MetLife Investment Management LLC now owns 32,782 shares of the company’s stock worth $899,000 after purchasing an additional 11,836 shares during the last quarter. Hedge funds and other institutional investors own 84.31% of the company’s stock.

Ping Identity Company Profile

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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.