Ping Identity (NYSE:PING) PT Raised to $28.50 at Mizuho

Ping Identity (NYSE:PINGGet Rating) had its price objective upped by Mizuho from $25.00 to $28.50 in a report released on Thursday, Marketbeat.com reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price target suggests a potential upside of 1.89% from the company’s current price.

Several other brokerages have also recently weighed in on PING. KeyCorp reiterated a “downgrade” rating on shares of Ping Identity in a research report on Wednesday. DA Davidson lowered Ping Identity from a “buy” rating to a “neutral” rating in a report on Wednesday. The Goldman Sachs Group boosted their price objective on Ping Identity from $28.00 to $31.00 and gave the stock a “buy” rating in a report on Tuesday, April 12th. Stifel Nicolaus reissued a “downgrade” rating on shares of Ping Identity in a report on Wednesday. Finally, Barclays lowered Ping Identity from an “overweight” rating to an “equal weight” rating in a report on Thursday. Ten investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $28.68.

Ping Identity Stock Down 0.1 %

Shares of PING opened at $27.97 on Thursday. The business’s 50-day moving average price is $19.18 and its 200-day moving average price is $21.30. Ping Identity has a twelve month low of $15.85 and a twelve month high of $30.40. The company has a current ratio of 3.39, a quick ratio of 3.39 and a debt-to-equity ratio of 0.40.

Ping Identity (NYSE:PINGGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.21). Ping Identity had a negative net margin of 34.24% and a negative return on equity of 9.77%. The company 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 company earned ($0.04) earnings per share. The company’s quarterly revenue was down 8.7% on a year-over-year basis. On average, analysts predict that Ping Identity will post -0.83 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Andre Wong Durand sold 100,000 shares of the stock in a transaction that occurred 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 owns 502,416 shares of the company’s stock, valued at $14,002,333.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.89% of the stock is owned by insiders.

Institutional Trading of Ping Identity

Institutional investors have recently made changes to their positions in the stock. Mirador Capital Partners LP boosted its stake in shares of Ping Identity by 45.6% during the fourth quarter. Mirador Capital Partners LP now owns 16,392 shares of the company’s stock valued at $375,000 after purchasing an additional 5,132 shares during the period. Keenan Capital LLC boosted its stake in shares of Ping Identity by 25.4% during 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 period. Brinker Capital Investments LLC purchased a new stake in shares of Ping Identity during the fourth quarter valued at approximately $262,000. Dimensional Fund Advisors LP boosted its stake in shares of Ping Identity by 38.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 749,387 shares of the company’s stock valued at $17,147,000 after purchasing an additional 207,469 shares during the period. Finally, Handelsbanken Fonder AB boosted its stake in shares of Ping Identity by 95.6% during the fourth quarter. Handelsbanken Fonder AB now owns 511,400 shares of the company’s stock valued at $11,701,000 after purchasing an additional 250,000 shares during the period. Hedge funds and other institutional investors own 84.31% of the company’s stock.

About Ping Identity

(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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