Zacks: Analysts Expect Ping Identity Holding Corp. (NYSE:PING) Will Post Earnings of $0.02 Per Share

Analysts forecast that Ping Identity Holding Corp. (NYSE:PING) will announce earnings of $0.02 per share for the current quarter, according to Zacks Investment Research. Five analysts have issued estimates for Ping Identity’s earnings, with estimates ranging from ($0.03) to $0.05. Ping Identity reported earnings per share of $0.09 in the same quarter last year, which suggests a negative year-over-year growth rate of 77.8%. The business is scheduled to announce its next quarterly earnings results on Wednesday, February 23rd.

On average, analysts expect that Ping Identity will report full year earnings of $0.23 per share for the current year, with EPS estimates ranging from $0.16 to $0.28. For the next fiscal year, analysts forecast that the company will report earnings of $0.33 per share, with EPS estimates ranging from $0.26 to $0.41. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Ping Identity.

Ping Identity (NYSE:PING) last posted its quarterly earnings results on Wednesday, November 3rd. The company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.16. Ping Identity had a negative net margin of 14.54% and a negative return on equity of 1.67%. During the same period in the previous year, the company earned $0.07 earnings per share.

A number of analysts have recently commented on the company. Zacks Investment Research upgraded Ping Identity from a “strong sell” rating to a “hold” rating in a research note on Wednesday, November 3rd. Wells Fargo & Company upped their target price on Ping Identity from $32.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, November 4th. Deutsche Bank Aktiengesellschaft upped their target price on Ping Identity from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Thursday, November 4th. Colliers Securities restated a “buy” rating and issued a $35.00 target price on shares of Ping Identity in a research note on Thursday, September 23rd. Finally, Royal Bank of Canada upped their target price on Ping Identity from $38.00 to $40.00 and gave the stock an “outperform” rating in a research note on Thursday, November 4th. Seven equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average target price of $33.64.

NYSE PING traded down $0.03 on Thursday, reaching $24.31. 865,211 shares of the company’s stock traded hands, compared to its average volume of 1,039,676. The business has a 50 day moving average of $26.34. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -47.67 and a beta of 1.03. The company has a debt-to-equity ratio of 0.16, a quick ratio of 2.58 and a current ratio of 2.58. Ping Identity has a fifty-two week low of $20.70 and a fifty-two week high of $37.23.

In other Ping Identity news, major shareholder Vep Group, Llc sold 900,000 shares of the firm’s stock in a transaction on Monday, August 30th. The stock was sold at an average price of $23.60, for a total transaction of $21,240,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Lauren Adrienne Romer sold 1,000 shares of the firm’s stock in a transaction on Monday, November 1st. The stock was sold at an average price of $28.35, for a total value of $28,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,502,000 shares of company stock valued at $344,105,060. Insiders own 1.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in PING. American International Group Inc. raised its position in Ping Identity by 11.3% in the 3rd quarter. American International Group Inc. now owns 27,131 shares of the company’s stock valued at $667,000 after purchasing an additional 2,748 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Ping Identity by 19.0% during the third quarter. Bank of New York Mellon Corp now owns 244,896 shares of the company’s stock worth $6,018,000 after buying an additional 39,179 shares during the period. Migdal Insurance & Financial Holdings Ltd. increased its stake in shares of Ping Identity by 6.2% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 107,335 shares of the company’s stock worth $2,637,000 after buying an additional 6,289 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Ping Identity by 35.0% in the third quarter. Squarepoint Ops LLC now owns 151,161 shares of the company’s stock valued at $3,714,000 after acquiring an additional 39,211 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in shares of Ping Identity by 2,741.7% in the third quarter. Two Sigma Advisers LP now owns 443,300 shares of the company’s stock valued at $10,892,000 after acquiring an additional 427,700 shares during the period. Institutional investors and hedge funds own 88.91% of the company’s stock.

About Ping Identity

Ping Identity Holding Corp., doing business as Ping Identity Corporation, provides intelligent identity solutions for the enterprise in the United States and internationally. Its Ping Intelligent Identity platform provides customers, workforce, and partners with access to cloud, mobile, Software-as-a-Service, and on-premise applications.

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