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. The company's platform offers secure single sign-on; multi-factor authentication; access security; directory solution; dynamic authorization; risk management; identity verification; API intelligence; orchestration; and fraud detection. It also provides professional and customer support services. The company sells its solutions through a direct sales force. Its customers include enterprises in Fortune 100, U.S. banks, healthcare companies, aerospace companies, auto manufacturers, and North American retailers. The company was formerly known as Roaring Fork Holding, Inc. and changed its name to Ping Identity Holding Corp. in August 2019. Ping Identity Holding Corp. was incorporated in 2016 and is headquartered in Denver, Colorado.
Ping Identity Price Performance
Shares of NYSE:PING opened at $28.17 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.01 and a quick ratio of 3.01. Ping Identity has a twelve month low of $15.85 and a twelve month high of $30.40. The firm has a 50-day moving average of $20.01 and a two-hundred day moving average of $21.59.
Ping Identity (NYSE:PING - Get Rating) last announced its earnings results on Wednesday, August 3rd. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.13) by ($0.21). Ping Identity had a negative net margin of 34.24% and a negative return on equity of 9.91%. The business had revenue of $72.00 million during the quarter, compared to analyst estimates of $73.30 million. During the same quarter last year, the business posted ($0.04) earnings per share. The business's quarterly revenue was down 8.7% compared to the same quarter last year. As a group, research analysts expect that Ping Identity will post -0.99 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. DA Davidson downgraded Ping Identity from a "buy" rating to a "neutral" rating in a research report on Wednesday, August 3rd. Royal Bank of Canada reduced their price objective 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. Wells Fargo & Company downgraded shares of Ping Identity to an "equal weight" rating in a report on Tuesday. KeyCorp cut shares of Ping Identity to a "sector weight" rating in a research report on Tuesday. Finally, Mizuho increased their price target on Ping Identity from $25.00 to $28.50 and gave the company a "neutral" rating in a report on Thursday, August 4th. Twelve equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $28.82.
Insider Buying and Selling
In other Ping Identity 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 value of $2,787,000.00. Following the transaction, the chief executive officer now directly owns 502,416 shares of the company's stock, valued at approximately $14,002,333.92. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.89% of the stock is owned by insiders.